According to gender marketing expert Diana Jaffe, economic recession posed a threat to men, while women are pushing to cheer up themselves with a treat.
The desire of women to sport a new handbag for every occasion has become a secured shield for many luxury leather good makers, which proves that women to be more consistent spenders than men.
When compared with watches, which is a traditional male dominated sector, Louis Vuitton and Hermes bags are still along with the most sought-after highly demanded and luxury products even in current economic crisis.
“Women are also worried about their jobs, but not to the extent that they feel their mere existence is being threatened and so they are in the mood to buy despite the crisis,” Jaffe said.
Read more at Reuters