Consumer spending trends in the USA

Will the luxury market recover in 2021?

How has COVID-19 impacted the consumer rich?

More than half of the world’s rich* live in the USA (119 million out of 225 million people). They make up the largest consumer spending group in the world, spending 8 trillion dollars per year.
Due to the impact of COVID-19, the consumer spending in the USA by the rich has declined by almost 9%, but it is expected to recover quickly and exceed the pre-COVID levels by 2022.

*Rich: People spending over $110 per day in 2011 PPP.

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