The affluent consumer is a small yet powerful group.
According to luxury marketing firm Unity Marketing, they represent 20% of U.S. households, with an average household income of $181,905, .
Affluents have 50% of the nation's income and represent 40% of all consumer spending -- a powerful pull for a luxury brand.
But this group has also seen its numbers dwindle during the recent recession, and spending on luxury goods hasn't yet returned to pre-recession levels -- these consumers don't yet feel confident in their current financial stability or future.
And while they are willing to pay for high-quality products and special services, the way they do this has changed -- along with the rest of the U.S. They want digital experiences that replicate and remind them of visiting the store; otherwise, they are fine with shopping at mass retailers, such as Amazon.
If you're looking to appeal to this influential group but want a better understanding of their wants and needs, consider these 29 stats on what the affluent customer looks like and how they buy luxury goods:
59% of traffic to luxury sites is from mobile devices. [PM Digital]
The U.S. luxury market is 3.5 times larger than the next largest market, Japan. [Bain & Company]
Only 22% of affluents agree that if a luxury product goes on sale, it lessens the perception of luxury. [RSVP Publications]
Mass affluents are 8% less likely to watch broadcast TV and 25% less likely to watch cable TV than the average U.S. household. [Nielsen]
62% of total millionaires list Amazon as their favorite place to shop. [Shullman Research Center]
23% of millionaires are millennials, and 20% are Gen-Xers. [Shullman Research Center]
Affluents are 61% more likely than average to read a daily newspaper. [Nielsen]
More than 40% of traffic to Miu Miu's website is from social media, which is 2x as high as the next brand. [PM Digital]
Adults over the age of 54 visit luxury brand sites the most, but the second largest group included people age 18 to 24. [PM Digital]
People who earn more than $250,000 per year take an average of 6.2 leisure trips, while those who earn between $125,000 and $249,000 take 4.7 trips per year. [MMGY Global]
67% of people age 18-39 agree that if they read an article online and it is relevant to them, they don't care if it was written by the publisher of the website or an advertiser. [Martini Media]
25% of affluents own two or more personal residences. [RSVP Publications]
Luxury sites receive 49% of traffic through search, while the average apparel and accessories sites see 38% from search. [PM Digital]
Gen Xers with a household income of $213,000 spend more than $3,000 annually on fragrance, comestics, and beauty products. [American Express Platinum Luxury Survey]
49% of luxury shoppers expect the brand to have a mobile app. [PM Digital]
Affluent shoppers spend spend 3.2 times more than the average household in many categories. [Ipsos]
Gen Xers with a household income of $213,000 spend more than $6,000 on fashion accessories. [American Express Platinum Luxury Survey]
Affluents are 40% more likely than the average U.S. household to watch the Golf Channel. [Nielsen]
83% of affluent shoppers say they bought their last luxury item when it was on sale and this is very or somewhat imortant to their decision to buy. [American Express Platinum Luxury Survey]
13% percent of affluent males who shop online audience spend more than $30,000 online annually. [iProspect]
47% of luxury consumers say that relaxation and an escape from stress are the top reasons they travel. [American Express Platinum Luxury Survey]
In the shopping category, more visits to luxury brand sites came from Amazon than from any single department store or shopping portal. [PM Digital]
Prada saw a 466% increased in Twitter followers from 2013 to 2014. [PM Digital]
Luxury retailers get one-third the share of visits from email as compared to general apparel and accessories brands. [PM Digital]
55% of affluent consumers used their phones as a mobile payment device. [Accenture]
45% of affluent consumers had the help of a travel agency, personal concerge, or personal assistant when booking travel. [American Express Platinum Luxury Survey]
75% of affluent consumers agree that comfort and service is worth paying more for when traveling. [Martini Media]
60% of affluents agree that even though the recession is "officially" over, I am still spending money much more cautiously than previously. [Ipsos]
Gen Xers with a household income of $213,000 spend more than $4,000 on alcohol. [American Express Platinum Luxury Survey]