Report: Luxury Children's Sales Grow Faster than Regular Market
Would you buy your toddler $400 shoes, $700 dresses, or an $800 backpack?
A new study shows more parents are splurging on their kids. According to NPD Group, Inc., luxury children’s sales may only make up a fraction of a $34 billion market, but the research firm says it’s growing faster than the regular children’s wear and clothing market.
In the last year, children’s wear rose 4 percent and luxury children’s sales rose 7 percent.