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 (109 million out of 191 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 8.3%, but is expected to have a fast recovery and by 2022 already exceed pre-COVID levels.
*Rich: People spending more than 110 dollars per day in 2011 ppp.

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