This Packaged Facts report focuses on the "affluent" market, defined as consumers with household income of $100,000+, who currently have an aggregate household income of approximately $2.6 trillion. The number of these affluents has grown exponentially in the past few years, largely as a result of consumers becoming wealthier at a younger age by exercising IT stock options. As marketers scramble to find out how these newly minted affluents want to spend their money, hard data on affluence, financial management, and the effect of the Internet on affluents' habits is more important than ever. This updated report provides key data and analysis regarding this burgeoning new class of consumers, as well as information on more "traditional" affluents: what they like, what they want, and most importantly, where they put their hard-earned wealth. Report includes focus sections on Home, Auto & Electronics, Financial Management, Travel & Leisure, Personal Shopping, and Information Technology, based largely on recent Simmons Market Research Bureau data on U.S. consumer purchasing, ownership, and product usage patterns.
Scope And Methodology
This report examines the affluent market in the United States, with affluents defined as households with an income of $100,000 or more annually. Where appropriate, coverage extends to the moderately affluent segment of the population, defined as households with an income of $75,000-$99,999 annually. Following a "Statistical Overview" chapter on the affluent demographic, this report provides focus chapters: Home, Auto, Electronics; Financial Management; Travel, Entertainment, Leisure; Personal Shopping (focusing on representative segments in the food and beverage, apparel and accessories, and health and personal care categories); and Information Technology.
The information contained in this report was obtained from primary data and secondary research. The analysis of consumer demographics primarily derives from the Simmons Market Research Bureau (New York, NY) fall 2000 consumer survey, based on 31,576 respondents. Secondary research entailed data-gathering from relevant trade, business, and government sources, including the U.S. Census Bureau.
13% of U.S. Households Deemed Affluent, Up From 5% Twenty Years Ago
New York, December 20/PRNewswire - According to The U.S. Affluent Market, a new market research study published by Packaged Facts and released by MarketResearch.com, the number of affluent American households - defined as those with an income exceeding $100,000 — is growing at a much faster rate than the total number of U.S. households. There are 22% more affluent households in the United States now than there were in 1997, and in spite of the current economic slowdown, the number of affluents should only dip by about 3% in 2001.
As marketers scramble to find out how these growing numbers of affluent Americans want to spend their money, hard data on the demographics of the market and the effect of the Internet on affluents’ habits is more important than ever. The U.S. Affluent Market provides market data and analysis on this consumer demographic, including what they like, what they want, and most importantly, where they spend their hard earned wealth. The report focuses on several markets upon which affluents have a tremendous impact, including the automotive, electronics, financial management, and travel and leisure industries.
The U.S. Affluent Market also provides a demographic overview of the affluent market. This snapshot of the market shows an important shift in the ethnic make up of American affluents. As ethnic groups are steadily edging up their share of affluent households, women also make up a growing percentage of affluents.
“Women and minorities head up a growing number of affluent households,” said Meg Hargreaves, VP of Research Publishing for MarketResearch.com. “The fact that the demographic profile of these decision makers is shifting presents unquestionably powerful ramifications for the marketing efforts directed at this market segment.”
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook