• Average luxury consumer spends $28,800 a year on beauty, fashion and gifts
• 42% of GCC luxury consumers buy luxury clothes on a one to two month basis, 41% luxury shoes and 37 % on luxury bags every two to three months
• In the GCC 78% of consumers report that they like to keep up with the latest trends with 76% of them converting desire to purchase by claiming they are up to date with the latest trends
• The IMF predicts the region will see a 4.4% growth in GDP in the next year
A report has revealed that on average affluent nationals in the Middle East spend around $2,400 in beauty, fashion and gifting, with 42% refreshing their wardrobe up to twice a month with the latest and greatest luxury trends.
The Chalhoub Group, the leading partner for luxury in the Middle East has released the report following recent ONS figures that reveal that visitors from the Middle East rank top for tourism spend per person in the UK in 2013. The...