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.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)