Is Luxury Spending on the Rise?

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Aug. 19 (Bloomberg) -- Bank of America Merrill Lynch Senior U.S. Economist Michelle Meyer and Lucky Magazine's Chief Creative Officer Eva Chen discuss the current buying trends in luxury handbags. They speak on “Bloomberg Surveillance.” (Source: Bloomberg)

Lucky magazine.

A magazine about shopping.

It does not go out of style, do people buy this as an investment?

I hope it is an investment, my whole closet is full of them.

That is my portfolio.

It is one of those pieces that you pass onto your daughter and she passes on to her daughter.

In a way, it is an investment.

It is a chanel bag, people are going to buy them no matter what the prices.

Couldn't go the way of louis vuitton bags, they are overexposed and consumers in emerging markets no longer gravitate towards them?

Louis vuitton has a new designer so we are seeing a resurgence in interest.

The new bags are almost sold out.

There are a few smaller clutches that are gone completely.

Louis vuitton is doing well.

Chanel markets their brand very well.

They will always have prestige.

It is very important that it will just continue to sell.

Michelle meyer of bank of america, what will be the bag of choice?

I have yet to have purchased a chanel bag.

Ethan harris, if you heard that, put a chanel bag on her desk at merrill lynch?

Hopefully one will come in the mail.

I have a few mark jacobs bags.

They are very user-friendly and adaptable.

Educate us.

What makes a bag great, a chanel or hermes versus a coach or -- educate me.

Coach is a price bag more american women can afford.

You are looking for quality.

I have a coach bag that my mother gave me that she owned in the 1970's. it is one of my most luscious items.

You are looking for something classic.

I am sure your marked jacobs bags are ones that you take care of and will pass on one day.

You do not want to buy something that you will only use for one season and then discard.

It is the feeling of investment and the feeling it is something that you will use for the rest of your life.

Like, your bag defines you?

A bag is part of your signature style.

Let scarlet speak.

Zip it!

Adam johnson is doing research.

Eva, quickly, you are a huge presence on instagram.

You have 200,000 followers.

Stuff that adam, tom, and i are jealous of.

A lot of those are in asia.

You have brought this market along to follow you in fashion.

How invested are they in fast fashion, the quick turnaround we see in trends?

Fast fashion is a deceptive term.

Nowadays, it is more like fashion people want to see changing constantly.

On social media, it is a way to look into someone's life in a different part of the world.

I follow a lot of people in korea and japan to get a sense of what is going on.

This text has been automatically generated. It may not be 100% accurate.

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