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September 25, 2014

How US Spends : Middle Class Consumer vs Affluent Consumer

 US Middle Class consumer spends vs the Affluent's Spends
US consumer Spends declines
US consumer Spends Down
Consumers spent more on housing and transportation but less on apparel and entertainment in 2013.Apparel and services saw a 7.6% drop in average annual spending  This drop is  spread across most apparel categories, and included an 8.3% decline for men and boys clothing and a 7.6% decline for women and girls clothing.

he second-biggest percentage decline in spend came for entertainment, down 4.7% year-over-year to an average per-unit spend of $2,482. By contrast, spending on healthcare (2.1%) and housing (1.5%) grew the fastest of the major components.

consumer spends in US vs Affluent Consumer spends

US Superich  Spends down

Some 67.5 million American adults lived in a household with annual income of at least $100,000 (“affluents”), a 5 million (or 8%) increase from last year, details Ipsos in its latest annual study of the affluent population. As such, 28% of the adult population can be classified as affluent, as can 23% of all US households. 
According to the Ipsos study, the average age of an affluent adult is 46.1, The wealthy (household income of at least $500,000), by comparison, skew older, with an average age of 50.5.
The super rich spends on the following 
  • Automotive – including the purchase price of vehicles and motorcycles, as well as auto maintenance and supplies ($398 billion in aggregate spending; 20% of total spend);
  • Personal insurance ($227B; 11% share);
  • Home & garden ($208B; 10% share);
  • Education expenses ($201B; 10% share); and
  • Groceries ($193B; 9% share).