What are the 1 Percent Buying?
Less than one-fifth of American adults are considered “ultra wealthy,” but according to the Shullman Research Center, a marketing research firm specializing in affluent insights, this minority leads the way in the purchasing of luxury goods.
These statistics are significant for marketers.
“The good news for luxury marketers, their agencies, and the media alike is that consumers with really deep pockets are digging into those pockets with gusto, even more so than their merely affluent counterparts,” said Bob Shullman, the research firm’s founder and CEO. “These extremely high-income and wealthy luxury consumers are also purchasing with greater frequency, and this bodes well for the entire luxury category.”
Here is a glimpse into the purchasing habits of rich Americans.
So what would you buy with all that mula?
Sources: Carrie Cummings, Adweek