WASHINGTON – As the economy slowly starts to rebuild, more consumers are looking for luxury items at non-luxurious prices.
When the economy starts to rebound from tough times, cost-conscientious consumers are interested in “more subdued, conscientious and functional versions of luxury,” according to a report from IBISWorld, a research firm.
This does not mean that consumers have lost their taste for luxury goods, but rather their tastes have changed to meet today’s society.
Flash sale sites bring luxury goods to the masses, with sales that last a few short days, or even hours. For example, Amazon’s MyHabit is offering men’s Yves Saint Laurent suits for over half off, and ideeli offers Prada pumps with a 25 percent discount.