Is a Piece of the Good Life Hurting?
Sales of luxury goods in the U.S. are expected to total $72.5 billion in 2008, according to Bain & Co., a Boston-based retail consulting firm. Worldwide, sales of luxury goods are expected to grow 3 percent this year to $230.7 billion, Bain predicted last October. That is down from growth of 6.5 percent last year and 9 percent in 2006.