The semi-annual release of results from the Ipsos Affluent Survey went live on March 28th. Based on responses from more than 24,000 adults with household incomes over $125,000, the results are projected to a total population of 60.5 million affluent adults (18 years and older).
With a median household income of $180,898 (+1.5% from a year ago), affluent households earn slightly more than three times their non-affluent counterparts. In addition, thanks to strong U.S. economic performance over the past 12 months, we estimate that affluent household net worth has grown more than 5% from a year ago to a median of $901,746. Almost one in four affluents (23%) now has a household net worth of $2 million or more. As a result, the purchasing power of affluents has never been stronger.
We’ve known for some time now that affluents wield remarkable influence within their networks. Seven out of ten regularly influence others across 20 different categories from alcoholic beverages to apparel; investments to travel. These “Affluencers” not only spend far more than their counterparts, they’re category experts and early adopters. Our Spring 2018 release details the categories they influence, as well as the products and brands that they buy in those categories. For more information on Affluencers, download IAI’s white paper, Meet the Affluencers.
New to the study this year is a section on connected home devices. More than four out of ten (44%) affluents have one or more household devices connected to Wi-Fi or Bluetooth that can be controlled remotely. Home entertainment, security and thermostats are the most popular devices. Not surprisingly, Millennial affluents lead the way with more than half of them (53%) owning a connected device. However, when it comes to practical items such as security systems, Gen Xers are keeping pace with their Millennial counterparts. Download IAI’s white paper, Smart Home: Not Your Typical Tech, for more on the subject.
There are now over 150 psychographic questions covered in the Ipsos Affluent Survey, including a new section on attitudes towards and opinions of advertising.
Coupled with our data on where Affluents see advertising and which types of advertising interests them most, subscribers can enhance their marketing communications programs by zeroing in on receptive and well-funded customers. Detailed exposure information on more than 300 media brands, allows precise media planning. The big four broadcast networks continue to reach the highest proportion of Affluents, however Netflix is gaining ground with over half of all Affluents watching in the past week.
Of course, this is only the tip of the iceberg and we’ll continue to publish items of interest in our blog. Subscribers in the meantime have access to all of the information to develop their own insights.