SOURCE: MarketResearch.com

MarketResearch.com

May 03, 2010 09:08 ET

New Survey Analyzes Spending Habits of Wealthiest 10%

ROCKVILLE, MD--(Marketwire - May 3, 2010) - MarketResearch.com has announced the addition of American Affluence Research Center's new report "Affluent Market Tracking Study #17, Spring 2010 Survey of the Wealthiest 10% of US Households," to their collection of Affluent Market market reports. For more information, visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2645961.

The 17th in a continuing series of research reports based on twice-yearly surveys of the most affluent 10% of U.S. households, this survey was designed to provide information critical for effective marketing to the affluent and luxury consumers. This report identifies:

  • Spending plans over the next 12 months of both the luxury and affluent consumers (and they are often different)
  • Which of 17 product categories show the most sales potential and among which market segments
  • Which segments are committed to a green lifestyle and which of 7 eco friendly products they now own and which they will buy during the next 5 years (and how much of a premium they are willing to pay)
  • Which of 3 eco friendly activities they have done and which they will do during the next 5 years
  • Which of 8 major purchases show the most sales potential and among which segments
  • Who were the pre recession careful spenders and who were the "free spenders"
  • Which segments are worried about the amount of their debt and which are not worried
  • What special actions to reduce their debt are being taken and by which segments
  • What the affluent expect of the stock market, business conditions, and their personal income during the next 12 months

Top 5 Ways to Use and Benefit from this research:

  1. Develop an understanding of the general mood of the affluent and their expectations for business conditions and personal income over the next 12 months. Gives you a basic perspective on general market conditions that will determine marketing opportunities and challenges
  1. Identify changes in the spending plans of the affluent for your specific product category during the next 12 months. Shows you how potential sales of your product category compare to prior years and indicates what competitive pressures may result in your industry
  1. Learn which segments of the affluent market represent the best sales potential for you during the next 12 months. Identifies the market segments that are cutting back on spending and those that are continuing to spend for your product category. See which segments are burdened by pre-recession spending and debt and which were living within their means
  1. Determine interest in and willingness to spend extra for 10 products with features that support a "green" or eco-friendly life style. Learn which consumers are serious in pursuing an eco-friendly life style and the premium price they will pay
  1. Create your marketing and sales plans with data based on the future intentions of the affluent. Unlike many other surveys of the affluent, this is not an extrapolation of past actions that they have been asked to remember and reconstruct.

Focused on the wealthiest 11.2 million households with an average $3.1 million net worth (as determined by The Federal Reserve Board) these surveys regularly measure and track their 12-month outlook for the economy, the stock market and their personal earnings, savings, investment objectives, and spending plans for 17 product categories and 8 major expenditures.

This survey also contained questions to help identify which segments of the affluent market were careful spenders and which were "free spenders" during the several years prior to the recession. The survey helps to understand who is burdened by pre-recession debt and spending, for what types of things they over spent, and what special steps they are now taking to reduce their debt.

Also included were questions to identify those who pursue a "green" lifestyle and those that follow a "low green lifestyle." This produced data about current ownership of seven green or eco friendly products and plans to purchase any of the products during the next five years. Involvement in three types of green activities during the past five years and/or plans to do so in the next five years were also identified.

The surveys track plans for major purchases (vacation homes, primary residences, home remodeling, automobiles, boats, and cruises) during the next 12 months. The survey also tracks anticipated changes in spending during the next 12 months for 17 categories of products and services. These include fine jewelry and watches, domestic and international travel, dining in casual and upscale restaurants, furniture, major appliances, entertainment equipment, home computer equipment, entertainment, recreational activities, collectibles, designer and non-designer apparel, and charitable and political contributions.

For more information, visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2645961.

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