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Luxury Spending

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By: TOM BRANNA

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Consumers’ spending on luxury goods is growing at a modest rate, while spending on experiences is booming. According to Unity Marketing’s Unity Luxury Consumer Survey, the average amount spent by an affluent household on luxuries—including home and personal luxuries, automobiles and luxury experiences—rose 3.8% from $50,640 in 2004 to $52,588 in 2005. The average luxury consumer household spent 4.6% less on home luxuries in 2005 ($19,990) as 2004 ($20,948). Personal luxury spending, on things ...

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