Ed Jay

Haven't these people heard of comparison-shopping apps? While a larger number of consumers have been drawn to luxury fashion courtesy of flash sale sites, new research from American Express Business Insights shows that consumers, Gen Yers in particular, are spending more of their dollars on full-price sites such as Neiman Marcus, Nordstrom and others. According to the research, flash sales sites experienced a 92 percent increase in dollar sales in 2010 and then a more modest 21 percent jump last year. At the same time, full-priced sites saw 2011 sales improve 25 percent on top of the 20 percent

New York City — Consumers are spending more, but doing so in fewer transactions, according to American Express Business Insights’ most recent Business Insights Spend Sights report. The study, which examines spending patterns across several key categories, U.S. cities and demographic groups, finds that while economic uncertainty continues to dampen overall consumer confidence, a new pattern of less frequent but measurable splurging has become evident among a range of customer groups in several categories. “Spending patterns since the recession indicate that value is top of mind for consumers, even among the most affluent customers," said Ed Jay, SVP at