11/02/12
“Mass affluent” Americans – those with household assets of $250,000-$1,000,000 – are more likely than average Americans to own smartphones and/or tablets, but less likely to access the Internet using mobile devices, according to Nielsen.
Mass affluent households watch 8% less broadcast TV and 25% less cable TV than average U.S. households. Mass affluent and other households with annual incomes of $100,000 or higher spend more time viewing TV recorded on DVR than those with lower incomes, however.
Households with incomes of $100,000 or more spend 23 hours per month online, including three hours and 36 minutes of streaming online content. Mass affluent adults (with household assets of $250,000-$1,000,000) are 25% more likely than the average adult to access the Internet from work.
Mass affluents consume more print media than members of other income groups; they’re 61% more likely than average Americans to read daily newspapers. They’re especially interested in publications that cover finance, home décor and architecture, travel, and wine.
Demographics
There are 13 million mass affluent households, comprising 11% of all U.S. households. The typical mass affluent is a married Baby Boomer with either grown children or no children, and an average annual household income of $105,500 (compared to the national average of $62,912). Mass affluents are likely to live in “second cities,” such as Hartford, CT, and Santa Barbara, CA, which have convenient access to major cities but are more affordable and livable.
Mass affluents are more likely than overall adults to be non-Hispanic White or Asian. The report also includes profiles of mass affluent segments by demographic and lifestyle factors.
Spending
Nearly a third (32%) of affluent Americans (with household incomes of $100,000 or higher) say they’d spend more if the economy and job market improved significantly, according to Ipsos MediaCT. Almost two thirds (65%) wouldn’t change their spending. Affluents are optimistic; 49% expect to be better off financially a year from now, while 26% are unsure and 25% don’t expect to be better off.
More than two thirds of employed affluents (67%) feel optimistic about their employers, and 79% expect their employers to spend more (27%) or the same (52%) in the coming year as they have in the past year.
More than a quarter of affluent back-to-school shoppers (28%) expect to spend more on back-to-school items this year than last year.
Sources: “Affluence In America: A Financial View Of The Mass Affluent,” October 2012, Paul Donato, EVP & Chief Research Officer, Nielsen, 770 Broadway, New York, NY 10003; 646-654-5000; www.nielsen.com. Price: Available online at no charge.
“August 2012 Mendelsohn Affluent Barometer,” Ipsos MediaCT, Stephen Kraus, SVP, Chief Insights Officer, Audience Measurement Group, 49 Stevenson St., 15th Fl., San Francisco, CA 94105; 415-293-9711; steve.kraus@ipsos.com; www.ipsos-na.com. Price: Contact for information.
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