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2026-04-09 17:39:46
[Citi: US Luxury Credit Card Spending Grows 7% in March, Strong Spending by Wealthy Consumers] ⑴ Citi analysts wrote in a report that US luxury credit card spending increased year-over-year in March, driven by continued strong spending from wealthier consumers. Luxury brand credit card spending rose 7% last month, marking the third consecutive month of growth. ⑵ Analysts noted that spending still increased despite heightened geopolitical tensions and macroeconomic risks, leading to subdued consumer sentiment. They estimated that luxury watches and jewelry were the segments with the largest increases in spending. ⑶ Swiss watch groups and Essilor Luxottica are among the European luxury stocks most affected by the US market. Analysts stated that Hugo Boss and Burberry are the two companies least dependent on the US market.
