The number of households in the US with $500,000 in net worth, not including primary residences, decreased by 5% to an estimated 15.6 million in 2008, according to TNS. That is the first time in six years that the number of affluent households has fallen.
“After several years of strong gains, all three major stock market indices posted losses over the past year,” said Ellen Sills-Levy, senior vice president at TNS, in a statement. “Coupled with the impact of increasing inflation and a depreciating real estate market, even the affluent are feeling the strain.”
The affluent are of special interest to online marketers. The wealthy were among the earliest Internet adopters, and they have historically spent more time online than those with lower net worths.
Among US affluent heads of household surveyed, those with annual household incomes of $250,000 and over spent the most time online, according to a study conducted from March through July 2008 by Ipsos Mendelsohn.
The researcher found that the average number of hours logged weekly increased with income, and that users in the top income tier spent nearly 6 more hours online per week than those whose incomes ranged from $100,000 to $150,000.
Even with the dip in the number of wealthy households, it is unlikely that the formerly affluent will decrease their time online.
Agencies and brands from all verticals rely on eMarketer Total Access for analysis and data. Daily articles are just the tip of the iceberg. Find out what you are missing. Learn more about Total Access today.