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80pc affluent spenders now on lower-income end: report

Posted By Tricia Carr On In Apparel and accessories,Featured,Fragrance and personal care,Home furnishings,Industry sectors,Jewelry,News,Research,Travel and hospitality | No Comments

 

By Tricia Carr

Gucci spring/summer 2012
To reach the now-powerful group of affluent consumers on the lower-income end of the spectrum, marketers may want to become more accessible via brand extensions or refocused campaigns, according to Unity Marketing's Annual State of the Luxury Market Report 2012.

The High-Earners-Not-Rich-Yet (HENRY) consumers have returned to the United States marketplace after an absence in 2010 and expect to spend more on luxury throughout 2012. While the luxury segment saw historically high consumer spending in 2010, spending dropped in 2011, signalling a return to the norm.