Tis the time for giving. This holiday season, affluent consumers are more comfortable with their spending. On average, affluent households spend more than four times more than the average family on holiday gifts, according to the National Retail Federation industry trade group.
“After four plus years of reprioritizing and realigning their spending to match their values, affluent consumers are feeling quite good about themselves and their ability to maintain — and even increase — their family’s happiness and well-being,” says Jim Taylor, vice-president of Harrison Group, a marketing consulting and research services firm.
For those who want to spare no expense, there are plenty of fashionable items that are on trend — leopard gloves, checkered pajamas, and metallic heels, to name a few. But personalized gifts focusing on relationships and experiences, and products that help raise money for charitable causes, are just as fashionable, as affluent consumers look to give gifts that are more meaningful.
See below for some luxurious gift ideas.