DUBLIN--(BUSINESS WIRE)--The "Affluent Consumers: Demographic Patterns and Spending Trends, 7th Edition" report has been added to Research and Markets' offering.
Affluent Consumers: Demographic Patterns and Spending Trends highlights cross-currents in the affluent consumer market in an era marked by this widening gulf between the affluent and everyone else.
Affluent consumers have enjoyed a post-recession bounce far greater than that experienced by their lower-income counterparts. Between 2010 and 2016, the aggregate income of affluent households more than doubled, while aggregate income attributable to all other households was up just 19%.
Some affluent consumers cope with the psychological baggage of being wealthy in an increasingly winner-take-all economy by declining to think of themselves, or to project themselves, as being affluent or wealthy at all. Such evolving mindsets among affluent consumers comes are reflected in changes in how they prefer to spend their money. For an increasing number of affluent Americans, the endless and conspicuous accumulation of possessions has become less important than financial access to meaningful experiences such as purposeful or at least truly exotic travel. In another shift, more and more upper-income consumers would rather achieve status by promoting the right kind of social values, as opposed to purchasing products and services that reflect a material world mindset.
Another kind of status now sought after by affluent consumers comes is the ability to buy time, a transaction increasingly seen as the ultimate luxury purchase. Marketers are focusing on how to provide unique services to their affluent customers that provide the kind of convenience, time savings, and outsourcing of mundane tasks and concerns that ordinary consumers can't afford. Customized, personalized products and services also rank high on the priority list of affluent consumers.
While opportunities for the pursuit of excess still abound, especially for the ultra-rich, many affluent shoppers remain intent on searching for value and hunting for bargains. For example, data cited in this report show that affluent households are actually more likely than households on average to respond to money-saving incentive offers (58% vs. 46%), especially those offering a rebate with product purchase (54% vs. 38%).
Key Topics Covered:
Chapter 1: Executive Summary
Chapter 2: Trends And Opportunities
Chapter 3: Personal Profile Of Affluent Consumers
Chapter 4: Consumer Profile
Chapter 5: Financial Profile Of Affluent Consumers
Chapter 6: Marketing To Affluent Consumers
Companies Mentioned
- Bentley Motors
- Burberry
- Luis Vuitton
- MemoMi Inc.
- Neiman Marcus
- Tiffany & Co.
For more information about this report visit https://www.researchandmarkets.com/research/xg3tlt/affluent
