The Durk Pearson & Sandy Shaw®
Life Extension NewsTM
Volume 18 No. 1 • April 2015


Dip In Affluent Consumers’ Spending in 4th Quarter of 2014
Shows Sharp Drop in Confidence Among the Most Well-Off

You do hear a lot of lies these days about how well the economy is doing, mostly from the government and those who’d like you to think that higher taxes and more government spending is a great idea. Here are some numbers to help provide some perspective.

Unity Marketing conducted a survey from Oct. 9 – 15, 2014 among 1,330 affluents, which includes those with household income of $100,000 and above. The survey showed a drop in affluent consumer confidence of 12.3 points to 46.4, the lowest mood since Quarter 4 of 2008 to Quarter 1 of 2009. Since the affluent households represent only 20% of U.S. households (24.5 million out of 122.5 million) but account for more than 40% of all consumer spending, this is a very major decrease. The demographics of this survey sample was an average income of $259,000 and average age of 47.9 years.

The sort of goods and services surveyed include art galleries, craft stores, home stores such as Restoration Hardware, Crate & Barrel, IKEA, fashion and clothing, jewelry, and general merchandise such as Macy’s, Target, Costco, Bloomingdale, JC Penney’s. This is the sort of marketing survey conducted to help companies follow the sales of products they offer or are thinking of offering, not a survey for the general public. The purpose of the survey is not political, e.g. to point fingers at anybody, but to help marketers decide what is selling and who is buying.

Reference

  1. Danziger. Five Luxe Trends for 2015. Luxury Consumption Index. Unity Marketing.http://www.unitymarketingonline.com/ cms/uploads/white_papers/five_key_luxury_market_trends_final_new.pdf. Accessed April 30, 2015.

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