Luxury consumers are more willing to indulge this holiday season, but they are doing so with value in mind, according to Ronald Boire, president and CEO of retailer Brookstone.
"People have gone through two tough years and they're ready to indulge a little bit with a little bit of, if you will, practical luxury," Boire said, in an interview with CNBC.
Boire declined to provide any specific forecasts but said he is "pretty optimistic" about his company's prospects this holiday season.
"We've bought inventory to continue on our growth cycle," he said, noting that Brookstone has had four straight quarters of growth.
"I think the high-end consumer is coming back," he said. This has been the case in recent months, and he expects the trend to continue through the holidays.
Brookstone is known for its unique—and sometimes pricey—gadgets and gifts, and its sales may provide a good glimpse at the state of discretionary spending.
According to Boire, one of the retailer's really hot products this holiday season is the Parrot AR Drone quadricopter, which is a toy helicopter that sells for $299.99. The quadricopter, which takes video as it flies, can be operated using a WiFi network and either Apple's iPhone, iPod Touch or iPad devices.
Another item Boire highlighted is a spy pen, which also has small video camera, and a Bluetooth wireless keyboard that can be used with an iPad. The video spy pen sells for $79.95, and the keyboard is priced at $99.95.
Perhaps a whole lot less useful is the pillow remote control, which is a throw pillowthat has a universal remote control embedded into it, and sells for $29.95.
Regarding the products that are selling well, Boire said, "It's about innovation, it's about value for the dollar, it's probably more so now than it's ever been."
Questions? Comments? Email us at firstname.lastname@example.org