U.S. luxury purchases sky rocket

LUXURY consumers in the US rated personal pleasure and enjoyment as the prime motivating factor when it came to making their most recent luxury purchases, including both luxury goods and experiences, according to a recent survey.

According to the study, of far less importance are factors such as exclusivity (59 per cent said it was unimportant or not needed), status (71 per cent unimportant or not needed) and social standing (73 per cent unimportant or not needed).