By  on August 13, 2012

America’s affluent are rapidly scaling back their luxury purchases, and apparel and accessories are bearing the brunt of the decline.

According to Unity Marketing’s quarterly Luxury Consumption Index, a survey of spending by those with household incomes of $100,000 a year or more, the wealthy cut the amount they spent on luxury goods and services to an average of $18,374 during the second quarter, 8.2 percent below the first-quarter level of $20,017 and 26.9 percent below the $25,150 spent during the second quarter of 2011.


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