Burberry Sales Down

It appears that middle-class families are still tightening their hold on their wallets. Fashion brand Burberry just announced that sales have been affected as middle-class consumers do not buy as many items as before.

According to Stacey Cartwright, the finance director of Burberry, aspirational shoppers are steering clear from the retail shops. Aspirational shoppers are consumers who purchase designer labels but are not able to buy the most expensive items in a shop.

Cartwright, however, said that the wealthiest customers still spend more money on designer labels but foot traffic for middle-class consumers is down.

Cartwright explained that the economy affects aspirational shoppers more that the wealthiest. The latter are more resilient and can still spend even when the economy is struggling.

According to industry analysts, Burberry reflects how the wealthy and middle-class shoppers buy. The more expensive brands of Burberry like Prorsum are enjoying high sales while the cheaper lines do not sell as much.

The London Olympics also did not do much for retail shops. Tourists who flocked the United Kingdom were there to watch the sports but not to shop.