Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Affluents Feel Confident; Luxury Consumption Index Grows at Fastest Pace Ever
Nov 16, 2012
 Printable format
 Email this Article
 Search

Affluent consumer confidence showed a strong upturn, with affluent consumers much more positive about their financial status and prospects for the future, according to the latest survey from Unity Marketing. As a result, the Luxury Consumption Index (LCI) rose at its fastest rate ever.

The high level of confidence among affluent consumers also had luxury consumers shopping more in the third quarter of 2012, with luxury spending up 25.8% over the second quarter.

"Over half (52%) of affluent consumer surveyed feel they are financially better off today than 12 months ago; this measure hasn't been this high since 1Q2011," said Pam Danziger, president of Unity Marketing. "Rising even more sharply is the percentage of luxury consumers who feel the country as a whole is doing better now as compared with three months ago. Some 37% of affluent surveyed feel the country is now moving in the right direction, up 15 percentage points from last quarter."

The market research firm reported that several luxury categories showed a significant increase in 3Q spending. Spending on luxury kitchenware and cooking tools, for example, was up 83.1% in the report.

"Throughout 2011 and 2012, luxury consumer spending has mostly followed a downward trajectory, with their feelings of consumer confidence as measured by the Luxury Consumption Index (LCI) weak over the same period," Danziger said. "Finally in the latest survey, we see a shift toward growing confidence, which should give marketers that target all income levels a boost. After all, the affluent consumers we survey are the economy's 'heavy lifters,' accounting for only 20% of U.S. households but over 40% of all consumer spending."

Unity Marketing's Luxury Tracking Survey was conducted Oct. 9-15, 2012, among 1,289 affluent consumers, average age of 44, with an average income of $290,600 and a median net worth of $797,000.

Back to Daily News

 

Daily News

...........................................................

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

Aug 27, 2014: Electrolux Joins AllSeen Alliance to Develop Seamlessly Connected Appliances

Aug 27, 2014: HRAI Awards Industry Leaders at 46th Annual Meeting

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows