Aaron Wagschal Ask's Will it be a Merry Holiday Season for the Luxury Goods Market?

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With high unemployment rates and a struggling economy, will the holiday season be profitable for the luxury goods brands or will sales continue to slump in the future. Aaron Wagschal of Innopex Limited is optimistic with what the future holds.

The news does not seem to be getting any better as 2011 comes to a close. Unemployment remains stubbornly high and the general mood of doom and gloom prevails as we head into the holidays. The November 23 morning’s update on consumer spending as seen in the National Post based on USA Consumer spending stats is not fodder for holiday cheer in that spending increased an anemic 0.1% compared to the 0.7% expected. Americans worried about what the immediate future holds are using slight increases in income to supplement savings rather than spending. With an American economy starving for the return of the spontaneous shopper this conservative trend to rational budgeting is of concern to all those hoping for a reprieve this holiday season.

Amid the nail biting about what else could possible go wrong, one bright spot has emerged. Aaron Wagschal of Innopex Limited Toronto, recently visiting the New York Tabletop show, expressed his optimism for the luxury goods sector within tabletop and gift giving. Aaron Wagschal is quoted as saying “wealthy Americans who have been concerned about conspicuous consumption since the financial meltdown are beginning to feel more comfortable in treating themselves again”. Joshua Frankel of Innopex Limited Toronto also believes in Aaron's optimism. High end retailers such as Tiffany & Co are showing earnings that are once again impressive with a 17 percent beat, and 30.5% year over year revenue growth as written about in the Wall Street Window. The Madison avenues shops seem to be thriving during the occupy Wall Street Autumn of 2011. The glimmer of hope extends to categories outside of jewelry such as leather accessories, home and kitchen. For the tableware industry good news does not come often and therefore manufacturers and retailers alike are watching these trends for concrete signals of a rebound. To a much diminished industry the hope that the consumer is finally paying attention again to formal dining and entertaining is making this holiday season a little more merry.

Aaron Wagschal is the Vice President and Operations Manager of Innopex Limited which specializes in the importing and exporting of luxury goods. If you would like more information on Aaron Wagschal you can visit his website or The Innopex Group of Companies.


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