Rich Feel 'Guilty' Spending Now: Poll

By Harry Kimball,  Newser Staff

Posted Apr 30, 2009 3:18 PM CDT

(Newser) – Even the still-rich are unhappy in this economic climate, though their dolor is more likely to come from shame than anything else, USA Today reports. 54% of people who have $100,000 to spend after such mundane things like mortgage payments and taxes “feel guilty purchasing luxury goods” nowadays, according to a survey. But it’s not just because of the disapproving glares of the masses.

In fact, 53% of the well-off actually fear they will run out of money. The group makes up only 10% of households, but is responsible for more than half of retail sales. In advice that still assumes a certain remove from the average Joe, an adman suggested luxury retailers market products with words the affluent “can use at a dinner party to justify their purchase.” Like, say, “vintage.”

A man poses with shoes at the Millionaire Fair in Munich last year.
A man poses with shoes at the Millionaire Fair in Munich last year.   (AP Photo)
A man shops for a necktie at the Hermes Paris store in New York.
A man shops for a necktie at the Hermes Paris store in New York.   (AP Photo)
A woman peruses shoes at a Hermes Paris.
A woman peruses shoes at a Hermes Paris.   (AP Photo)
Shoppers look in through a window at Tiffany & Co.
Shoppers look in through a window at Tiffany & Co.   (AP Photo)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   HitFix   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   CollegeHumor   |   Barstool Sports   |   OK!