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 Digitaltwitter-logo

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 Publicationstwitter-logo

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 Centertwitter-logo

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. [Ipsostwitter-logo

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. [Accenturetwitter-logo

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]

market-your-agency

Originally published Jan 26, 2015 9:00:00 AM, updated July 28 2017

Topics:

Marketing Data