Men are more likely than women to opt for a luxury brand when buying handbags -- and it's the label, not the price, that counts, according to a survey of wealthy shoppers.
The Luxury Institute on Tuesday said the demand for luxury bags remains strong, with about one third of 1,500 wealthy American shoppers surveyed buying a branded bag in the last 12 months.
"The luxury handbag is the accessory that defines the wealthy woman and is a major profit driver for luxury fashion brands," said Milton Pedraza, chief executive of the New York-based researcher focused on wealthy consumers.
The Luxury Institute found that men were more likely than women to reach for a luxury label when buying a handbag -- 73 percent of men, compared with 50 percent of women -- and over three times more likely to choose luxury French brand Chanel.Now maybe this is my Englishness showing through but males purchasing handbags is something of a sign of metrosexuality (at the least) while nearly all women buy them. So what we're seeing here is thatthe men are self-selecting as being those with higher disposable incomes. Yes?