Income/wealth is distributed quite unevenly in the United States and around the world. And high poverty rates exist globally. But today, we look at the upper end of the income spectrum. How affluent Americans live. Their demographics and behavior impact many firms. In the United States, 28 percent of households earn at least $100,000 per year. However, the cost of living also affects affluence. It differs dramatically by a person’s location.
See how closely the following information matches your own perceptions of affluence in America.
How Affluent Americans Live
Based on several different sources, the Video Advertising Bureau (VAB), recently produced a report on American affluence. Writing for MarketingProfs, Laura Forer offers these insights about that report.
“You’ve heard the expression that a person is ‘time poor but cash rich.’ So what can marketers do with that type of information about their consumers? The Video Advertising Bureau produced an infographic that includes statistics from a report that explores the behaviors and media consumption of those Americans with plenty of cash but little time. The report shows affluent U.S. as demographically different than those in other income brackets. But, they possess similar values and life pressures regarding education, career, family, and time management.”
“Of course, a big differentiator is disposable income. Higher disposable income lets the affluent simplify and enrich their lives. For example, they use credit cards and time-saving services more. And they own more new technologies than the average American. Few, however, consider themselves highly knowledgeable about new technology. None of that should come as a surprise. Yet, the idea of products and services that can help people simplify and enrich their lives may be appealing to affluent consumers. Also, it may be something marketers want to consider in their advertising efforts.”
Learn a lot about affluent Americans from the infographic below.