A Less-Than-Luxe Xmas

Luxury goods marketers say that affluent consumers spend money in any economic environment. Maybe that’s true, but they are already spending a lot less.

In fact, Neiman Marcus just announced its October results this morning, and sales were down a stunning 25 percent during the month.

On the other side of the tracks, retail analysts have already proclaimed it “a Wal-Mart Christmas,” where sales rose again in October, topping the retailer’s own high-end forecasts.

Perhaps critics of Wal-Mart’s much maligned “save money, live better” campaign will begin to change their tune when they all start shopping there this Christmas.

Photo by sevenbirches on Flickr.com, (cc) some rights reserved.