The New York-based Luxury Institute recently released their State of the Luxury Industry 2009 Survey which spoke of the challenge facing luxury brands in recessionary times. What caught my eye was the portion of the survey which dealt with what affluent people would consider spending on various items. Here’s what the survey had to say about wine and the Price Ceiling:
“As for the image of rich folks ordering thousand-dollar bottles of wine, $40 was the most the survey’s men could imagine spending for one ‘for a special dinner at home,’ and $30 was the female respondents’ upper limit.”