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In the November 3rd issue, covering the Latest Quarterly Survey from American Express Publishing/Harrison Group on Affluence and Wealth in America, is a most informative visit to spending in a troubled economy.
One thing that struck us, as we listened to the October 2 presentation, was how the term affluent covered so much territory - There is “ Bedrocks” Affluent, “Upper Middle Class” Affluent, “Pinnacle” Affluent, “Super” Affluent and finally, just plain Wealthy – all together, some 20 million households.
What I liked about the Report was its focus on Spending represented by each category — a focus maintained throughout the survey.
Now move on to the just released 2008 Mendelsohn Affluent Survey
covering U.S. household incomes $100,000+ (23 million households).
Incomes of $250,000 annual income, however, become Upper Affluent; and
finally, when we add $1,000,000 or more in liquid assets, such
households graduate to Wealth status.
And, once again, the focus of the entire report is on spend (Annual Total of $974 billion, with $132.63 billion in travel - 14%)
For a copy of the Ipos - MMR Report, email
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The end of the Luxury Label as we know and love it in marketing? Not at all.
I trust, from past experience, that when “Luxury” clients for the
individual studies fill the room, the “luxury” nomenclature will be
front and forward. But -- it will still be the SPEND that matters.
READ MORE - From The Editor
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