CITY VIEWS: DO YOU THINK DEMAND FOR LUXURY GOODS WILL DECLINE IN THE CURRENT ECONOMIC DOWNTURN?
DAN BUNTING BANKER
“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.”
MEL DIXON AZTEC
“No, I don’t think so. The market can’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.”
NINA CAMPBELL ROYAL LONDON ASSET MANAGEMENT
“I think some people will buy fewer luxury goods. The mid-tiers would probably be most affected and buy less. I haven’t cut down much though. I’ll still buy designer
handbags!”
STEPHEN GALVIN
“Yes, though I think it is wealth dependent. I believe
quality will shine through and people will stop buying cheap rubbish and instead turn to high-end and luxury items.”