Nov
25
AFFLUENCE MATTERS!
Filed Under Affinity Brand, Marketing | Author: Gerald Smith |
WHO ARE THE AFFLUENT?
Representing 20% of all households in the United States; Affluent households, those earning in excess of 100k annually, account for almost 60% of the total household income nationwide. That’s 60% of the total 2008 household income of 8 trillion dollars!
WHY DOES IT MATTER?
No doubt this consumer segment represents a significant amount of all disposable income. And while the numbers might catch our attention, what matters most has nothing to do with the dollars. For those affinity brands positioned in the ‘product & services’ market space, affluent consumers are by far their greatest prospects. Not just because of their disposable cash, but because of their lifestyle, tendencies, and habits. Affluence matters most because of what we know about the profile of this consumer category.
THE BASICS
- Average Household income in this segment exceeds 195,000.00 in 2008
- Liquid assets averaged in excess of 500,000.00
- Average age is 48.4
- 2/3rds achieved college degree or higher
- 91% are married
- 97% own their residence
BUT DID YOU KNOW
- Almost 50% of their disposable income is spent on household items, travel, and apparel
- They spend more annually on personal insurance than electronics
- Over 80% visited Home Depot or Lowe’s in 2008
- Over 80% shopped at Wal-Mart in 2008
- Search engine of choice is Google
- High readership of People, Time, Nat Geo, SI, & Newsweek magazines
This savvy consumer segment also ranks in the highest category for technology use. Over 97% are connected to the web (both home and mobile). This is also the highest consumer segment for online purchases, purchasing everything from airline tickets to home appliances. Want to talk to this group? I would be thinking technology…
So whether your affinity brand represents the latest must-have gadget, or fund-raises for the most worthy causes, this is a market segment you need to know about… and there’s much to know.
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[…] AFFLUENCE MATTERS! … assets averaged in excess of 500,000.00 Average age is 48.4 2/3rds achieved college degree or higher 91% are married 97% own their residence BUT DID YOU KNOW Almost 50% of their disposable income is spent on household items, travel, and apparel They spend more annually on personal insurance than … […]