Shoppers are cutting back in the aggregate as they brace themselves for economic headwinds, so the conventional wisdom is that unnecessary “splurge” purchases are on hold. But Deloitte’s For Consumers, Splurges Aren’t Just Lipstick report found that 77% of global consumers say they made a splurge purchase in the last month, with an even higher number (81%) in the U.S.
Lupine Skelly, Retail Research Leader at Deloitte, noted that when you dive into the findings, the reasoning behind this seemingly counterintuitive trend becomes clear: people are treating themselves to the pleasure of a mildly frivolous purchase.
