Printemps opens in New York amid growing economic disparity in 2025
In 2025, Printemps opened its first New York outlet, with a grand opening on March 21 near the New York Stock Exchange. The luxury store features an ice rink, a bar, a champagne cart, and an upscale ambience, illustrating the divide in consumer spending. Prices at Printemps include a $600 black fur coat and $1,450 leather tabi boots.
This launch comes amid a 'K-shaped' economy, where a wealthier segment benefits from asset inflation while many households face rising costs for groceries, healthcare, and housing. Over the past five years, the S&P 500 index has risen nearly 86%, aided by an AI boom. Wealth distribution remains highly unequal: the top 1% owns nearly 50% of the stock market, the top 10% own 87.2%, and the bottom 50% own approximately 1.1%.
Inflation increased from 2.3% in April 2025 to 3% in September 2025, while the unemployment rate rose from 4.0% in January to 4.4% in September. The Yale Budget Lab estimates that tariffs implemented under the Trump administration add about 1.2 percentage points to price rises in the short term, costing the average household around $1,700.
Anti-poverty programs have been tightened under this administration, including reduced enrollment in food stamps and housing assistance. The Robin Hood Foundation reports New York City poverty at 25% this year, nearly double the national poverty rate of 13%.
Consumer spending growth underscores this divide: low-income households increased spending by only 0.7% year-over-year, compared with 2.7% among high-income earners. Credit data also shows increases among both super-prime and sub-prime scores.
Corporate executives highlight a two-tier consumer dynamic. Delta notes growth driven by premium customers, Coca-Cola points to premium product sales, and McDonald’s indicates middle- and low-income customers are under pressure, with some skipping meals or choosing to eat at home.
