America’s Mass Affluent represent 12% of US households but enjoy an outsized 26% of the nation’s total wealth.
48% of US affluents with income of more than $100,000 said they discovered new luxury products while shopping online, a rate almost equal to the 50% who said they discovered new products while shopping in-store.
Among US affluents with household income of more than $100,000 per year, the amount of time spent online grew nearly one-quarter from 2011 to 2013, at 32.8 hours per week to 41.6 hours per week, respectively.
Barely one-third of affluents said they “usually buy brand-name packaged goods instead of generic or store brands.”
90% who earned $100,000 to $199,999 “almost always” conducted research for deals and best prices before shopping.
By one popular measure of affluence—a minimum annual household income of $100,000—affluents comprise one-fifth of all US households.
Luxury buyers used an average of 3.1 digital devices, compared with 2.9 devices for the general population.
Among those with an annual household income of at least $100,000 who had purchased at least two luxury items in the past two years—98% went online daily.
Affluent Americans spend $1.9 billion annually – and that those dollars are highly concentrated among a select group of areas.
Ipsos estimates that 62.5 million Americans count as affluents – meaning that they are aged 18 and over and living in households with at least $100,000 in annual income – an almost 6% increase from 59 million last year.