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CITY VIEWS: DO YOU THINK DEMAND FOR LUXURY GOODS WILL DECLINE IN THE CURRENT ECONOMIC DOWNTURN?

<strong>DAN BUNTING </strong> BANKER<br />&ldquo;I think that people who can afford them in the first place will continue to buy luxury items. On the other hand, maybe those who are sensible will save. I suppose it is also wage dependent, just as many expenditures are.&rdquo;<br /><br /><strong>MEL DIXON </strong>AZTEC<br />"No, I don&rsquo;t think so. The market can&rsquo;t withstand luxuries any more while other costs are rising. People have to cut out unecessary costs and luxury items would probably be one of them.&rdquo;<br /><br /><strong>NINA CAMPBELL </strong>ROYAL LONDON ASSET MANAGEMENT<br />&ldquo;I think some people will buy fewer luxury goods. The mid-tiers would probably be most affected and buy less. I haven&rsquo;t cut down much though. I&rsquo;ll still buy designer <br />handbags!&rdquo;<br /><br /><strong>STEPHEN GALVIN</strong><br />&ldquo;Yes, though I think it is wealth dependent. I believe <br />quality will shine through and people will stop buying cheap rubbish and instead turn to high-end and luxury items.&rdquo;