LONDON: Power tools roared as an army of workmen rushed to ensure Europe's largest city-centre shopping mall opens on time, but marketing executives said the crisis in global financial markets has accelerated a trend among consumers to reject conspicuous consumption.

The US$3-billion (S$4.4-billion) Westfield centre in West London will have a strong focus on luxury when it opens today.

Promotional material cited Louis Vuitton, Prada, Tiffany and Gucci among its stores, but managing director Michael Gutman downplayed these.

"We have a mass-market offer here, even though a couple of the precincts have attracted particular attention," he said.

Other retailers, said executives, are quietly dropping the term "luxury" from their marketing material, in favour of phrases depicting shopping as relaxation and time shared with family and friends.

With credit harder to obtain, mortgage costs rising and unemployment growing in the United States, Europe and Japan, clever advertising may not be enough to persuade those who can still afford to part with their money.

Said Mr Rory Sutherland, vice-chairman of advertising agency Ogilvy: "In grim times, it becomes distasteful or simply unfashionable to spend money on bling, or what you might call conspicuous consumption."

Bentley-driving broker Scott David said people in the City of London financial district who could still afford it were hesitating before spending conspicuously.

"You wouldn't turn up (for a) meeting in a brand-new Porsche. It would be seen as bad taste," he said. "You don't want to be seen to be rubbing people's faces in it."

After years of strong growth, luxury-goods sales are expected to fall globally by 1 per cent in the fourth quarter, and may drop by up to 7 per cent next year, according to a study by consulting firm Bain and Co.

US sales of Porsche cars fell by 58 per cent last month, compared with September last year, while overall car sales declined by 22 per cent, according to figures from Autodata.

Mr Andy Lear, head of planning at the London office of French advertising agency Publicis, said the repercussions of the financial crisis were simply accelerating a trend that already existed.

"People had already been looking for something more meaningful than just chasing cash and buying things that look flashy," he said.

Ms Henrietta Creighton, managing director at Lifestyle Boutique which provides luxury concierge services, said business had slowed compared to last year, but clients were still spending on family celebrations.

Mr Brian Goldner, chief executive of toy maker Hasbro, said family board games such as Scrabble, Trivial Pursuit and Monopoly were expected to be Christmas hits as families decided against expensive holidays.