Two major groups of consumers are reversing their spending habits of the past two years. Inflation is causing lower- and middle-income households to spend fewer discretionary dollars, which they have been willing to spend, while affluent consumers, who limited their spending, are ready to spend, collectively, $275 billion, according to analysis from Visa.
Visa estimates those with household incomes of $100,000 or more earn $185,000, on average and the average age of these affluent consumers is 48. Visa also estimates they will spend approximately $110,000 of those earnings and substantial amounts for their home and to travel.
Radio is an excellent reach medium to engage with these affluent consumers based on data from five representative 2021 consumer/market surveys conducted by The Media Audit. A home is certainly high on the list of planned purchases during the next two years, as adults 18+ with household incomes of $100,000 or more and heavily exposed to radio (180+ minutes during the average day) over-index, on average, at 132.