Second50Years Marketing Blog

The Nielsen Company has released a report, called Affluent in America: America’s Changing Wealth Landcape, that breaks the affluent into eight categories.

This report describes the emergence of what it calls a “New Mass Affluent” class and widens the lens for affluence by including households with incomes above $100,000 and income producing assets of $100,000 or more.

Of course, older Americans are among the most affluent. The report says of this group:

“The top-ranked segment, dubbed ‘The Wealth Market,’ most closely resembles the traditional portrait of old money. Filled with suburban couples over 65 years old, these 2.6 million households control a much larger share of assets in the country than their numbers would suggest. Some 48 percent of households in this segment have more than $2 million in assets—nearly 44 times the national average—and no other segment even comes close. Demographically, these super-rich tend to be married, white, older— more than 68 percent are over 55—and empty-nesters. Compared to the general population, they’re 10 times as likely to own common stock, nine times as likely to own municipal bonds and seven times as likely to use a broker at Merrill Lynch. No wonder ‘The Wealth Market’ members are sought after by everyone from yacht salesmen and custom clothiers to exclusive resort timeshares and, of course, all manner of financial services companies.”

This eight-page PDF report has loads of charts and interesting details about the consuming habits of modestly affluent and more affluent Americans. It is worth taking a look.