Hello and thank you for the question. Unfortunately, discretionary and
"luxury" consumer spending is fairly arbitrary and difficult to
determine in hard data. There will be much more available data when
the 2003 Consumer Expenditure Survey is released. As of now, the 2002
survey is the most recent available (there is a link to this survey
below).
However, I have compliled some quality data on product types that are
most often "luxury items" as you have outlined in your question.
Please let me know if you need any clarification of my response. I
will be happy to follow up my answer if more specific information is
requested and available.
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2003 Personal Consumption Expenditures by Type of Product in Millions
of U.S. dollars
From- NIPA Data of the Bureau of Economic Analysis
http://www.economagic.com/NIPAt2-4-5U.htm
-------------------
New Automobiles: 97508
Recreational vehicles: 13444
Motorcycles: 11811
Pleasure boats: 17218
Pleasure aircraft: 1481
Private flying: 570
Sports and photographic equipment, bicycles and motorcycles: 49346
Casino gambling: 60762
Foreign travel by U.S. residents: 79189
Hotels and motels: 41544
Luggage (females): 3316
Luggage (males): 1172
Luxury housing: 2285
Jewelry: 53639
Wine and brandy, at home: 16383
Outdoor eqpt and supplies: 1945
Furniture and household equipment: 328001
Semidurable house furnishings: 37905
Clocks, lamps, and furnishings: 32714
China, glassware, tableware, and utensils: 32194
Video and audio goods, including musical instruments, and computer goods: 121317
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Additional Information:
Browse Retail Sales Data of the US Census Bureau
http://www.economagic.com/cenret.htm
Consumer Expenditure Survey Home Page
http://www.bls.gov/cex/
2002 Survey (most recent)
http://www.bls.gov/news.release/cesan.toc.htm
The Luxury Phenomenon
from Boston Consulting Group
European New Luxury Market Estimated at $400 Billion Outside the U.S.
http://retailindustry.about.com/od/seg_luxury/a/bl_bcg071304.htm
"As in the United States, the consumer markets in Western Europe and
Japan are being restructured by emerging buyers of "New Luxury" --
items, products and services that deliver higher levels of quality,
taste, and aspiration than conventional ones -- according to a new
report from The Boston Consulting Group (BCG).
The market for the U.S. "new luxury" products and services was $440
billion in 2003 in the U.S."
Luxury Electronics:
http://www.unitymarketingonline.com/newsletters/pr4.html
"The number one must widely purchased luxury in the past year was
luxury electronics, mirroring a finding from our 2002 survey. And
among those who bought jewelry, they spent nearly $2,000?that is 46
percent more than they spent on this ultra-luxury category in the
previous year."
Spas:
http://www.unitymarketingonline.com/newsletters/pr4.html
"Spa spending also got a 36 percent boost this year over average
spending last year."
Platinum:
http://www.angloplatinum.com/investor_media/im_annual_rep/ar_03/b_rprt/market_review/platinum_supply_demand.htm
" Demand for platinum for the fabrication of jewellery in North
America rose by 5% in 2003 as platinum built on its popularity in the
bridal sector. Consumer surveys conducted in this target market
indicated that in 2002 platinum accounted for 38% of engagement rings
priced above US$3 000, 36% of women's wedding bands priced above US$1
000, and 32% of men's wedding bands priced above US$500. These are
substantially up on previous years, despite the rising platinum price.
Recent consumer and trade surveys confirm the increasing preference
for platinum bridal jewellery."
Economics Links:
United States Bureau of Economic Analysis site:
http://www.bea.doc.gov/
Provides data at regional (e.g., state and local area data);
international (e.g., balance of payments); and national (e.g., gross
domestic product) levels.
Consumer Price Index:
http://www.bls.gov/news.release/cpi.toc.htm
From the Bureau of Labor Statistics, US Department of Labor.
Econ Links
http://www.ncat.edu/~simkinss/econlinks.html
Links to a wide range of economic information, including other
Web-based indexes and directories, as well as sites highlighting
economic indicators and analysis of the US macroeconomy.
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Search Strategy:
Database Research, Lexis Nexis
Thanks again for your question. Please don't hestitate to request
clarification if need be. Good luck.
Regards,
Anthony (adiloren-ga) |
