SOURCE: Luxury Institute

September 12, 2007 11:00 ET

Luxury Institute Analysis: The Number of Wealthy U.S. Households Increased 51% in the Last Four Years

NEW YORK, NY--(Marketwire - September 12, 2007) - A special meta-analysis of wealthy American households conducted by the New York-based Luxury Institute's Luxury Board staff (www.luxuryboard.com) finds that they have increased in number by over 51% in the last four years. Households with an annual income of $150,000 or more have risen to 8 million in 2006 from approximately 5 million in 2002. This represents 7% (about 8 million) of American households according to this wealth segment analysis of the just-released 2006 American Community Survey data.

Among $150k U.S. households, 6.5 million are white, 372k are Hispanic, 312k are African-American, and 527k are Asian. California is the wealthiest state with 1.3 million wealthy households, followed by New York, with 668k. Still, Washington, D.C. has the highest percentage of citizens who are wealthy, followed by New Jersey and Connecticut. It's hard to beat the New York Metro area for concentration of wealthy consumers, at 885k, followed by Los Angeles at 450k.

"The Census Bureau data is easily the most reliable collection of demographic and financial data on American consumers available, but putting it to use in the luxury goods and services industry is traditionally a daunting and expensive task of digging through the data for relevant insights," said Milton Pedraza, CEO of the Luxury Institute. "We created the Luxury Board membership program to provide luxury professionals around the world with dozens of our own proprietary surveys conducted with wealthy consumers on critical topics such as Internet Habits, Social Responsibility, and Customer Relationship Management. However, there are also many government surveys that we can meta-analyze and put in presentation format so that our members can save time and effort. This data is just one critical example. If you want to know where to deploy resources in luxury goods and services, this is one critical guide."

The Luxury Institute provides this detailed PowerPoint analysis, and dozens of its own proprietary surveys exclusively to members of its Luxury Board (www.luxuryboard.com), a global community of luxury goods and service executives, professionals and entrepreneurs.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net-worth consumer globally. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.luxuryboard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.luxuryinstitute.com.

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