By Pete Rizzo (@pete_rizzo_)
Affluent Americans spend 80 percent of their money - or $1.5 trillion - on purchases in just eight spending categories, according to the 2013 Ipsos Affluent Survey USA from global market research analyst Ipsos. More importantly for merchants, however, the study revealed that the size of this market is growing.
Ipsos determined that more than 62 million affluents, defined as those who make at least $100,000 annually, now reside in the U.S. This figure has risen 6 percent over the last two years.
Released on September 19, the survey revealed that automotive spending accounted for the highest portion of U.S. affluent spending at 18 percent. Affluent Americans spend $343 billion per year on automotive spending, the study found.
Rounding out the top four categories were personal insurance, home and garden and education expenses, which accounted for 11 percent, 11 percent and 10 percent of U.S. affluent spending. Groceries, travel, apparel and electronics purchases rounded out the top eight.
Further, Ipsos examined which electronic devices generate the most spending in certain categories.
In this PYMNTS.com Infographic, we illustrate the data so that merchants can position themselves for success with affluent buyers in the eCommerce and mCommerce market.
For more insights and analysis into affluent spending, read Ipsos' full report here.