30 May '16, 7pm

Consumers' mindsets are shifting dramatically — and it's killing brands like Tiffany https://t.co/Mbe5VYtPxo

Consumers' mindsets are shifting dramatically — and it's killing brands like Tiffany https://t.co/Mbe5VYtPxo

View gallery . (Shutterstock/Olesia Bilkei) Consumers are preoccupied with value when it comes to spending on apparel, jewelry, and accessories. As a result, luxury brands like Tiffany & Co. have been struggling. "We've seen such a slow down in the high end," Brian Yarbrough, analyst at Edward Jones told Business Insider. While lower-end stores, like Ross and TJ Maxx are performing well, Tiffany's comparable sales declined 9% in the most recent quarter. Luxury department store Nordstrom has also been struggling. At first glance, the weakness in luxury is puzzling because consumer confidence is high and Tiffany's customers still have discretionary income to spend. But Yarbrough points out that people are increasingly spending on categories other than luxury retail. "People are still willing to spend on auto, and they're still willing to spend on their homes which are bigger...

Full article: http://finance.yahoo.com/news/consumers-mindsets-shifting...

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