Luxury retail shoppers and their typically higher household incomes are showing up in Sunbelt markets ready to spend and retail centers are taking notice.
No longer mostly consolidated in New York and Los Angeles, areas such as Phoenix, Austin, and Nashville are gaining in popularity, according to recent foot traffic data from Placer.ai blogger Bracha Arnold.
The luxury fashion market has been displaying resilience in the face of a challenging retail climate, Arnold writes, largely because high-income shoppers are still fairly insulated from inflationary concerns.
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