Affluent American Pent-Up Demand & COVID

While affluent consumers have sometimes been called “crisis-proof”, they have exhibited anxiety and concern during past crises and again during the current one. In fact, anxiety and worry amongst affluent consumers continued for years after the Great Recession and declined very slowly over the first years, post-crisis. Yet, data also shows that the Affluent are more insulated from economic crises and are the first to rebound post-crisis than non-affluent ones. So how do you fulfill the needs of this resilient group?

View our on demand webinar featuring recent research about future planned purchases as Affluent Americans actively return to the marketplace. Affluent households in the U.S. annually spend 2.5 times what non-affluent households spend according to data from the U.S. Bureau of Labor Statistics. In addition, the majority of Affluents feels that their financial position to strong enough to weather any economic fallout from the coronavirus pandemic. This financial insulation will allow Affluents to reignite the U.S. economy faster than any other group in the country. By listening to this webinar you will learn more about Affluents’ concerns about COVID, their immediate and short-term plans for purchases, as well as details on what will make them most comfortable to reenter retail outlets.

In the meantime, we have published several articles exploring this topic further:

• Affluent Consumers During COVID, parts 1 and 2
• The Generational Impacts of COVID on Affluent Consumers
• Affluents and Travel Beyond a Pandemic