30 Jan '17, 10am

via @LuxuryDaily

With recently instated President Trump floating the idea of a 20 percent import tax on goods coming into the United States, an already hurting luxury market might be impacted even further. While affluent consumers are thought to not worry about a price tag, growing research shows that practicality is a major part of the decision making process. Consumers do not think about the price tag before tax, therefore a significant rise in tax at once could mean many turn down products from overseas. “Consumers care about the after-tax price, not the before-tax price,” said Steve Allen, associate dean for Graduate Programs and Research, including the Global Luxury Management program, at NC State Poole College of Management. “This means that any tax is an additional expense that sellers have to cover, an expense that will have to be passed on to consumers. “So expect prices of import...

Full article: https://www.luxurydaily.com//how-will-trumps-20pc-import-...

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