The Luxury, Affluent, and Wealthy Market Segments: Part 2

At the request of many marketers who have heard Bob Shullman state at industry conferences that the upscale marketplace is in reality multi-faceted, this Insights brief (part 2 of a two-part series) focuses on the following three overlapping upscale consumer market segments:

  • Buyers of luxury in the past twelve months
  • Affluent consumers: adults with household incomes of $100,000 or more
  • Wealthy consumers: adults with personal liquid assets of $1 million or more

Just as there are six degrees of separation in our personal circles, there are also degrees of separation when it comes to understanding what makes the American upscale consumer tick.  And at the root of that understanding, especially for marketers targeting these consumers for their luxury goods and services, wealth services, or other upscale offerings, it is vital to recognize how upscale consumers’ lifestyle and sporting activities, their psychographics, the luxuries they buy and how much they spend on them, as well as the communications platforms they consume all factor into the differences across the luxury, affluent, and wealthy market segments.  This brief provides a detailed picture of how the upscale market segments enjoy their lives, with the caution that the three upscale segments profiled in this brief and the previous one are decidedly not all alike.

This brief follows up on our previous brief and focuses on the following three topics:

The upscale market segments’ activities and psychographics:

  • Top fifteen leisure and cultural activities
  • Top fifteen sporting activities
  • Significant psychographics

The upscale market segments and luxury:

  • Luxuries bought in the past twelve months
  • Amount paid for most recent luxury bought

Communicating with the upscale market segments:

  • Top fifteen platforms of forty-two measured on which advertising was seen in past thirty days
  • Ranks of engagement for advertising seen on top fifteen platforms of the forty-two measured based on their reach

The following eight exhibits were included in Part 1 of our series, the previous Insights brief:

  • All luxury, affluent, and wealthy consumers
  • Household incomes
  • Liquid assets
  • Gender
  • Generations
  • Education
  • Marital status
  • Principal residence

To purchase a copy of this Insights brief, including all the details and exhibits, for $249.00, please click below.

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