The story below originally appeared in the November 13 edition of Ipsos’ GenPop Magazine:
Starbucks was playing Christmas music as early as last weekend and Home Depot displayed decked out trees before that. The holiday season that drives the nation’s economy is here. With it comes all manner of dinners, parties and other festivities, starting with Thanksgiving next week. And there’s no one who looks forward to entertaining more than what Ipsos calls Home Affluencers.
Hosts with the most
Like other Affluencers (a term combining their income and influence), they have household incomes from $150,000 and up and they influence others on home, decorating, remodeling and entertaining. They are passionate about their homes and enjoy opening them to others. They are the ones who seem always ready to effortlessly host stylish seasonal gatherings for friends and families. Their invitations are the ones people are most eager to receive. They’re also the trendsetters other people turn to for hosting ideas and recommendations.
In many ways these Home Affluencers are exactly who you would expect them to be. Unsurprisingly, they tend to be female, married and college-educated. But they are most often Millennials. They’re also more likely to be multicultural, especially Hispanic and African-American and less likely white than other affluents.
Their affluence spills over into related spheres. They’re nearly four times as likely to be wine and spirits aficionados. They’re more than three times as likely to be influential travelers, entertainment fans and passionate gourmet cooks than other affluent people.
How they celebrate
One fascinating insight about Home Affluencers is they’re more than three times as likely to view themselves as the life of the party. More often than not, their dress code is dressy. Almost 60% of Home Affluencers prefer going to a formal dinner party than a casual get-together.
When Ipsos Affluent Intelligence explores what they may be serving when entertaining their family and friends, it’s clear they want to serve only the best food and beverages. They are also willing to pay more for it.
This is also true when it comes to alcoholic beverages. This is a group that believes top shelf or premium liquor brands are worth the added cost. They are five times more likely than non-Home Affluencers to buy liquor by the case and more than twice as likely to have a wine cellar or refrigerator. They have broad interests in spirits and prefer to serve or drink gin, tequila, rum, vodka, then whisky. These hosts love to try new and different liquors.
Home Affluencers will no doubt be shaping and setting the season’s menus and trends within their circles of influence. Brands and marketers have an opportunity to target this group with both new twists on classic dishes and by introducing new recipes that allow them to try something new and position themselves as a trendsetter among their friends and family.
For the all-important holiday retail season, that’s something to celebrate.