In such a shaky economy, many Americans are looking to save a couple bucks however possible. But there's still a significant contingent are willing to go all-out for designer threads.
Based on receipts from some of the country's most elite clothing stores between April 2010 and May 2011, business and personal finance site Bundle.com has found the 25 shops where customers on average spend the most money.
Excluding wholesalers, department stores and manufacturers, it may be no surprise that the majority of the shops identified by Bundle.com, seen in this infographic, are designer names like Prada, Chanel and Giorgio Armani. And often, they are located in big cities like New York, Los Angeles and Boston. (For cities that shop the most online, check out this infographic from Bundle.com.)
According to Bundle.com, many savvy fashionistas prefer to pick up designer-inspired items at lower-priced retailers like H&M and Zara, while others will spend up to $10,000 for an Oscar de la Renta cocktail dress. In fact, luxury retailers have struggled little compared to less expensive retailers because the wealthiest Americans have been largely unaffected by higher food and gas prices, Bloomberg reported in May. One such retailer, Saks Inc, for example, saw an increase in revenue of 15.6 percent in July. Compare that to only 3.3 percent increase at department store J.C. Penney.
Still, recent volatility on Wall Street may spell troubled times ahead for luxury retailers. That's because stock performance often informs high-income Americans spending habits, according to Bloomberg Business Week. Consumer sentiment among these shoppers hits its lowest point since November 2009 in the week ended August 7th.
Here are the top 10 clothing stores where customers spend the most money, according to Bundle.com.
