Miami Just Listed Real Estate News
Luxury marketers need to target consumers with a Net Worth of at least $30 million or more, according to the latest research by Prince & Associates, conducted September 22-24, 2008.
Some 439 families with a Net Worth of at least $1 million were surveyed. Survey findings were broken down by families with a Net Worth of $1 million - $10 million; $10 million to $30 million; and $30 million or more Net Worth.
Seventy-six percent (76%) of Families in the Net Worth $1 million - $10 million category said they will spend less between now and the end of the year on a roster of luxury lifestyle items with less than 1 percent (0.8%) saying they would spend more.
Findings in the $10 million to $30 million category were only slightly better, while the families with a Net Worth of $30 million + projected spending to be about equal to last year.
Over 85% percent of families with a Net Worth of $30 million + have a Household Income of at least $1 million, the Prince research noted.
What this means is that Realtors that want to target the most fertile segment of the affluent should be targeting those Households with a $1 million + Household Income.
As per your invite, Mirela. Thanks.
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