DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/zzhlvv/meet_the_henrys) has announced the addition of the "Meet the HENRYS: Positioning for the Mindset of the High-Earners-Not-Rich-Yet Mass Affluent Customers" report to their offering.
How Trunk Club, Black Box Wines, Leo Schachter Diamonds, Costco, Alex & Ani and more hit the mark with the new mass-affluent customer
Meet the HENRYs. These affluent consumers - their name means High Earners Not Rich Yet - are doing well, with an income between $100K and $250K. But they're a far cry from wealthy; reserve that adjective for the ultra-affluents, who earn more than $250K per year, or for those with high net worth, with amassed wealth of more than $1M. The HENRYs are the unassuming mass segment of the affluent consumer market, and they are your most important target now and for the future.
"Meet the HENRYs," highlights just why these lower-income affluents are so important to marketers. "The recent recession has left the true middle class severely limited in their ability to purchase goods and services in the near future," says Pam Danziger, president of Unity Marketing and author of the report. "This means HENRYs are the 'new mass market' for marketers and brands up and down the pricing scale."
The HENRYs are ready to respond in force, if not necessarily in high levels of individual spending. While HENRYs spend about half as much as do ultra-affluents on luxury and high end purchases, their significantly greater numbers (21.6 million households) mean that the total value of the HENRY market is about four times that of the ultra-affluent market (2.9 million households).
"Marketers have historically felt that ultra-affluents were their ideal consumer, but there simply aren't enough ultra-affluents to keep luxury brands afloat," says Danziger. "Instead, luxury brands need to broaden their reach to include these consumers. This creates a unique challenge, as they are now competing with mass market brands that would also like to reach up tap into HENRY spending."
The concise, highly-focused Meet the HENRYs trend report includes:
- HENRY Demographics (p. 5-26) and how understanding their income, education, marital status, and age distribution helps marketers target their best customers today and in the future. Brands profiled include: Michael Kors, Black Box Wines, Trunk Club.
- HENRY Purchase Behavior (p. 27-37) reveals the market potential for the 21.6 million HENRYs as compared with the 2.9 million ultra-affluent customers. Brands profiled include: Coach and Alex and Ani
- HENRY Psychology (p. 38-54) distinguishes the purchasing style and drive of five different HENRY customers so you can position your brand to you best potential customer.
- Five Key Take Actions (p. 55-79) sums up the most important take action steps for luxury and mass marketers aiming to capture the huge spending potential of the mass-affluent HENRY customers. Brands profiled include Lincoln, Costco, Leo Schachter Diamonds, Apple and Bare Escentuals.
For more information visit http://www.researchandmarkets.com/research/zzhlvv/meet_the_henrys
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