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Luxury Consumer Demographics, Purchases & Spending Snapshot Report

Luxury Consumer Demographics, Purchases & Spending Snapshot Report

New "Just the Facts, Ma'am" Report about the American Affluent Consumer, their Demographics and Seven-Years of Data about their Luxury Purchases & Spending

Unity Marketing has just released a short, but sweet report with key facts and figures on the affluent consumer market for luxury. Entitled Luxury Consumer Demographics, Purchases & Spending Snapshot Report this succinct trend report presents the busy marketer with "just the facts, ma'am" in order to help them assess opportunities and shifts in the affluent consumer market for luxury goods and services, including seven years of trends in what luxury goods and services affluent consumers are buying, how much they are spending and the trends in where they are making their purchases.

It includes details, facts and figures taken from Unity Marketing's Affluent Consumer Tracking Study,which is a longitudinal survey among 1,000-1,200 affluent consumers (incomes $100,000 and above) conducted throughout 2008, 2009, 2010, 2011, 2012, 2013 and 2014.

Contained in this new concise snapshot report are these essential facts and figures that can give direction to marketers' business and strategic plans.

  • American affluent consumer demographics – Details about the affluent consumers who have the money to buy luxury goods and services, including details about two key demographic segments in the affluent consumer market, the HENRYs (high-earners-not-rich-yet, or the mass affluent) and the Ultra-affluents, the traditional target market for luxury brands. Also included are demographic details of affluents by age, gender, ethnicity and other key demographic characteristics that define the affluent consumer.
  • Trends in luxury goods and services purchases – A look at seven-years of purchase data that measures demand for 21 different categories of luxury goods and services, including personal luxuries, home luxuries and experiential luxuries.
  • Trends in affluent consumer spending on luxury goods and services – In addition to demand data, this report includes an overview of trends in affluent consumer spending on luxury goods and services covering seven years, pre-and-post the recession.
  • Which demographic segments of affluent consumers are increasing their spending, and which are still cutting back on luxury purchases.
"This report is written specifically for marketers that want the most up-to-date and salient facts to help them understand the trends in the current affluent consumer market for luxury and ways they can address their challenges. Unlike Unity Marketing's in-depth market research reports, this snapshot report gives the marketer the most important consumer data that will bring dimension to business planning. It doesn't overwhelm the busy executive with a lot of excess baggage they don't need, but presents them with the facts and figures they need to make decisions," explains Pam Danziger, president of Unity Marketing and author of Putting the Luxe Back in Luxury: How new consumer values are redefining the way we market luxury.


Introduction & Methodology
Unity Marketing's Annual State of the Luxury Market Report
The US Luxury Market Dwarfs All Others
Figure 1: U.S Luxury Market Relative to Rest of World 2014 (Source: Bain & Company)
More about the Luxury Report
Home Luxuries
Personal Luxuries
Automobiles, including automobile brands
Experiential Luxuries
Affluent Consumer Tracking Study (ACTS) Methodology
Two Segments of Affluents based upon Income Are Surveyed
Compilation of Affluent Consumers’ Luxury & High-End Purchases
New ACTS Shopper Track Survey Adds Additional Perspective on Affluent Shopping Behavior
Sample Demographics
Income Demographics
Figure 2: Income Sample
Net Worth
Figure 3: Net Worth
Gender
Figure 4: Gender distribution
Age Distribution & Cohort
Figure 5: Age Distribution
Luxury Marketers>> Take Action
Luxury Marketers>> Get Inspired by Suitsupply
Occupation & Employment
Figure 6: Occupation
Other Demographic Variables
Figure 7: Educational Attainment
Figure 8: Marital Status
Figure 9: Life Stage
Figure 10: Home Ownership
Figure 11: Ethnicity
Chapter 1— Prospects for the Future Luxury Market
Overview
Affluents Enjoying the Little Things in Life – Resisting the Temptation to Over-Spend & Liking It
Demographic Forecast: Luxury Drought
Figure 12: Dent Research, Consumer Spending by Age
Figure 13: LCI Historical 1Q2004-present
The Consumer Economy at Large
Figure 14: Personal Consumption Quarterly Change 2008-1Q15
Figure 15: Personal Consumption Expenditures 1Q15 Percent. Change Previous Period, details
Luxury Marketers>> Take Action as Economy Still Struggles
Figure 16: GAFO Retail Sales & Percentage Change 2007-1Q2015
GAFO Retail Sales in 2015
Figure 17: GAFO Store Sales YTD 2015-2014
Figure 18: Fastest Growing Retailers 1Q2015
Luxury Marketers>> Take Action by Tapping Consumer Trends
Chapter 2— Demographics of Affluence
Income Defines Affluence
Figure 19: U.S. Households by Income
Affluent Households Growing Fastest
Figure 20: Household Growth by Income
Luxury Marketers>> Take Action to Define Affluents by Wealth or Income
Figure 21: Average Income of Top Quintile Households
Luxury Marketers>> Take Action Don’t Overlook HENRYs
Luxury Marketers>>Get Inspired by Millionaires
Figure 22: Number of Millionaires by Country
Affluents Account for 40-50% of All Personal Consumption
Figure 23: Average Expenditures of Households by Income Quintile
Figure 24: U.S. Household Income 2002-2011
Figure 25: Affluent Average Income 2000-2013
More Demographic Characteristics of Affluent Consumer Market
Diversity among Affluents
Figure 26: Number Affluent Households by Ethnicity
Figure 27: Top 20% Income earners by Ethnicity
Age of Affluence
Figure 28: Income by Age
Luxury Marketers>>Take Action on the Luxury Drought
Figure 29: Number of Consumers in Window of Affluence
Figure 30: Population Projections through 2045 for 35-44 & 45-54 year olds
Luxury Marketers>> Take Action against a Culture Hostile to Luxury Indulgence
Luxury Marketers>> Take Action Get Ready for the Millennials
Luxury Marketers>> Get Inspired by PANDORA
Luxury Marketers>> Take Action Deliver Experiences, not more Things
Figure 31: Source of Greatest Luxury Satisfactions
Demographic distinctive
Figure 32: Source of Greatest Luxury Satisfactions by Age
Luxury Marketers>> Take Action as Purchase Motivations Change with Age
Figure 33: Experiences Source of Greatest Happiness & Satisfaction by Age
Chapter 3 -- Overview of Affluents’ Luxury Purchases & their Spending
Highlights of Affluents’ Luxury Purchases and their Spending
Figure 34: Trend in Demand for Luxury Goods & Service
Luxury Spending Trends
Figure 35: Trends in Total Spending on Luxury Goods & Services
Figure 36: Trend in Percent Change in Luxury Spending
Figure 37: Trends in Income Segment Spending
Figure 38: Trends in Spending by Major Category
Luxury Marketers>> Take Action
What’s Hot, What’s Not in Luxury
Figure 39: What’s Hot, What's Not in Luxury as measured by change in spending year-over-year
Total Luxury Purchase Incidence
Figure 40: Overall Luxury Purchase Incidence (All Affluent Consumers)
Luxury Goods & Services Demand
Figure 41: Luxury Goods & Services Demand
Luxury Consumers’ Average Spending on Luxuries
Figure 42: Average Spending on Luxury
What's Hot, What's Not in Luxury this Year compared with Last
Figure 43: Major Categories by Percent Change Year-over-Year
Spending by Income Segment
Figure 44: Luxury Spending by Income Segments
Figure 45: Comparative Spending by Income
Total Spending by Age Segments
Figure 46: Total Spending on Luxury by Age Segments -- Young Affluents and Mature Affluents
Figure 47: Comparative Spending by Age
Total Luxury Spending by Gender
Figure 48: Total Spending on Luxury by Gender
Figure 49: Comparative Spending by Gender
Luxury Marketers>> Take Action by Meeting Your Best Customer
Luxury Marketers>> Get Inspired by Suitsupply
Let Unity Marketing Be Your Research Partner

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