Table of Contents
Issues in the Market
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- Will the ultra-affluent and HNWIs spend the UK out of the recession?
- How can wealth be more evenly distributed?
- What factors influence the purchasing decisions of ultra-affluents and HNWIs?
- What are ultra-affluents and HNWIs spending their money on?
- Who influences the spending habits of the ultra-affluents and HNWIs?
Executive Summary
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- Demographic overview
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- Figure 1: Demographic overview, June 2012
- Affluence perpetuates itself
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- Figure 2: Gross annual household income, by value of investable assets, June 2012
- Cautious spending patterns
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- Figure 3: Changes in financial and investment habits over the past year, June 2012
- Quality at reasonable price
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- Figure 4: Factors that influence purchasing decisions, June 2012
- High vehicle ownership
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- Figure 5: Car ownership, March 2012 and June 2012
- Conservative leanings prevail
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- Figure 6: Attitudes towards technology, June 2012
- All in the family
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- Figure 7: Regular family activities, June 2012
- More generous donations come from the highest earners
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- Figure 8: Amount donated to charity in the past year, by household income, June 2012
- Overseas holiday destinations more desirable
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- Figure 9: Amount spent on holidays in the past year, by gender and age, June 2012
- Putting high value on independence
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- Figure 10: Self-image attitudes, June 2012
Trend Application
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- Trend: Click and Connect
- Trend: No Resting Place
- 2015 Trend: Old Gold
Market Environment
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- Key points
- Personal income tax liabilities
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- Figure 11: Income tax liabilities, by income range, 2010-11
- Property ownership
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- Figure 12: Household gross property wealth: summary statistics, 2006/08-2008/10
- Higher end of property fares well
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- Figure 13: Owners of other property (not including main residence): by property value bands, 2006/08-2008/10
- Investments of passion on the rise
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- Figure 14: Household collectables and valuables: distribution of households by banded values, 2006/08-2008/10, UK
Demographic Profile of the Ultra-affluent and HNWIs
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- Key points
- The north-south divide in affluence revealed
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- Figure 15: Demographic overview, June 2012
- Most respondents hail from Western Europe
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- Figure 16: Place of birth, June 2012
- Women hold their own
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- Figure 17: Gender, by age, June 2012
- The importance of partnerships
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- Figure 18: Demographic overview, continued, June 2012
- The HNWIs skew male and older
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- Figure 19: Value of investable assets, June 2012
- The British rich are getting richer
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- Figure 20: Gross annual household income, by value of investable assets, June 2012
- Shared responsibilities strengthen relationships
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- Figure 21: Main income earner and main shopper status, by gender, June 2012
Finances
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- Key points
- Financial comfort despite the downturn
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- Figure 22: Current and future financial situation, June 2012
- Most households have a sole financial decision-maker
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- Figure 23: Influence in financial decision-making, June 2012
- Men more influential in managing household finances
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- Figure 24: Influence in financial decision-making, by gender and age, June 2012
- Nearly three in ten don't rely on anyone for financial advice
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- Figure 25: Sources of financial advice, June 2012
- No major changes in spending
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- Figure 26: Changes in financial and investment habits over the past year, June 2012
- Concierge services – emerging field
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- Figure 27: Usage of paid or free concierge services over the past year, June 2012
- Concierge services provide added-value in premium accounts
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- Figure 28: Usage of specific paid or free concierge services over the past year, June 2012
Shopping Habits
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- Key points
- Department stores rule the roost
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- Figure 29: Preferred shopping destinations for weekend clothes, June 2012
- Paying full-price less fashionable in downturn
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- Figure 30: Preferred brands of weekend clothes, June 2012
- Strong popularity of top-end supermarkets
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- Figure 31: Preferred grocery shopping stores, June 2012
- Women more willing to splash out on restaurant meals
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- Figure 32: Price paid for an everyday two-course dinner and wine outside of home, June 2012
- Online is catching up to department stores
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- Figure 33: Preferred shopping destinations for a home cinema system, June 2012
- No room for budgeting on durables
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- Figure 34: Preferred brands of home cinema system, June 2012
- Chains breaking into premium territory
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- Figure 35: Preferred shopping destinations for a face cream or a shaving cream, June 2012
- Keeping it simple
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- Figure 36: Preferred brands of face cream or shaving cream, June 2012
- Balancing quality with value
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- Figure 37: Factors that influence purchasing decisions, June 2012
- No shame in buying on discount
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- Figure 38: Attitudes towards shopping, June 2012
- Prepared to pay for special treatment
- No frills shoppers
Automotive ownership
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- Key points
- Greater resilience in the face of fuel price increases
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- Figure 39: Car ownership, March 2012 and June 2012
- Luxury equals quality
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- Figure 40: Luxury car ownership, June 2012
- Luxury car sales persist through the recession
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- Figure 41: Market share of luxury new car registrations in the UK, 2006-11
- Typical luxury car owners are younger and very affluent
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- Figure 42: Demographic profile of luxury car owners, June 2012
- Luxury alongside mass-market
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- Figure 43: Car makes owned, June 2012
Technology Ownership and Media Habits
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- Key points
- Nothing better than watching TV
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- Figure 44: Weekly time spent with media, June 2012
- Over eight in ten manage finances online
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- Figure 45: Weekly online activities, June 2012
- Online engagement correlates with age
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- Figure 46: Number of weekly online activities, June 2012
- Younger adults have higher interest in portable technologies
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- Figure 47: Personal technology used, June 2012
- Number of devices used increases with level of affluence
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- Figure 48: Number of devices used personally, June 2012
- Generally cautious attitudes towards technology prevail
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- Figure 49: Attitudes towards technology, June 2012
Family Activities
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- Key points
- A great degree of family unity
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- Figure 50: Regular family activities, June 2012
- Expressing affection with gifts
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- Figure 51: Attitudes towards family life, June 2012
- Tipping scales towards more family time
- Over a fifth donated £1000 or more in the past year
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- Figure 52: Amount donated to charity in the past year (£), June 2012
- Younger adults less willing to disclose amounts donated
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- Figure 53: Amount donated to charity in the past year, by age, June 2012
- Charitable contributions rise with level of affluence
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- Figure 54: Amount donated to charity in the past year, by household income, June 2012
Property Ownership and Holidays
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- Key points
- 70% go on at least four holidays a year
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- Figure 55: Number of holidays taken in the past year, June 2012
- Holiday spend is high
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- Figure 56: Amount spent on holidays in the past year, by gender and age, June 2012
- Escaping with regular holiday fixes
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- Figure 57: Holiday habits, June 2012
- Highest spenders book via the internet
- Higher holiday home ownership amongst the younger adults
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- Figure 58: Property ownership, June 2012
Sources of Influence and Self-Image
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- Key points
- Men in the lead
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- Figure 59: Attitudes towards influence, June 2012
- Family is first
- Family as the most important source of information
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- Figure 60: Sources informing purchasing decisions, June 2012
- Independence, rather than status, is valued
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- Figure 61: Self-image attitudes, June 2012
Appendix – Finances
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- Figure 62: Financial decision-making, by demographics, June 2012
- Figure 63: Sources of financial information, by demographics, June 2012
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- Figure 64: Changes in financial habits over the past year, by demographics, June 2012
- Figure 65: Repertoire of usage of concierge services, by demographics, June 2012
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Appendix – Shopping Habits
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- Figure 66: Most popular preferred shopping destinations (weekend clothes), by demographics, June 2012
- Figure 67: Most popular preferred shopping destinations (groceries for a meal at home), by demographics, June 2012
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- Figure 68: Most popular preferred shopping destinations (home cinema system), by demographics, June 2012
- Figure 69: Preferred shopping destinations (face cream/shaving cream), by demographics, June 2012
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- Figure 70: Preferred brands (weekend clothes), by demographics, June 2012
- Figure 71: Preferred brands (home cinema system), by demographics, June 2012
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- Figure 72: Preferred brands (everyday 2-course dinner + wine (outside of home)), by demographics, June 2012
- Figure 73: Preferred brands (face cream/shaving cream), by demographics, June 2012
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- Figure 74: Most popular factors informing shopping decisions, by demographics, June 2012
- Figure 75: Next most popular factors informing shopping decisions, by demographics, June 2012
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- Figure 76: Repertoire of factors informing shopping decisions, by demographics, June 2012
- Figure 77: Agreement with the statements ‘I think less of brands if they go on sale/have been discounted’ and ‘I always buy what I want regardless of price’, by demographics, June 2012
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- Figure 78: Agreement with the statements ‘I carefully account for all of my spending’ and ‘You get what you pay for’, by demographics, June 2012
- Figure 79: Agreement with the statement ‘I always look out for special offers’, by demographics, June 2012
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- Figure 80: Agreement with the statements ‘Once I find a brand I like I tend to stick to it’ and ‘I buy clothes for comfort, not for style’, by demographics, June 2012
- Figure 81: Agreement with the statement ‘I enjoy splashing out on a meal in a restaurant’, by demographics, June 2012
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- Figure 82: Agreement with the statements ‘I am prepared to pay more for VIP areas/premier seating/lounges’ and ‘It’s worth paying more for organic food’, by demographics, June 2012
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Appendix – Automotive Ownership
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- Figure 83: Automotive ownership, by demographics, June 2012
- Figure 84: Most popular car makes, June 2012
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Appendix – Technology Ownership and Media Habits
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- Figure 85: Weekly online activities by repertoire of personal technology use, June 2012
- Figure 86: Attitudes towards technology by repertoire of personal technology use, June 2012
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- Figure 87: Most popular weekly time spent with media, by demographics, June 2012
- Figure 88: Next most popular weekly time spent with media, by demographics, June 2012
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- Figure 89: Other weekly time spent with media, by demographics, June 2012
- Figure 90: Most popular weekly online activities, by demographics, June 2012
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- Figure 91: Next most popular weekly online activities, by demographics, June 2012
- Figure 92: Most popular personal technology use, by demographics, June 2012
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- Figure 93: Next most popular personal technology use, by demographics, June 2012
- Figure 94: Most popular attitudes towards technology, by demographics, June 2012
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- Figure 95: Repertoire of weekly online activities, by demographics, June 2012
- Figure 96: Repertoire of personal technology use, by demographics, June 2012
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Appendix – Family Activities
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- Figure 97: Most popular regular family activities, by demographics, June 2012
- Figure 98: Next most popular regular family activities, by demographics, June 2012
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- Figure 99: Other regular family activities, by demographics, June 2012
- Figure 100: Repertoire of regular family activities, by demographics, June 2012
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- Figure 101: Agreement with the statements ‘My career/work always comes first’ and ‘My family always comes first’, by demographics, June 2012
- Figure 102: Agreement with the statements ‘I wish I could spend more time with my family/children’ and ‘We mostly socialise as a family’, by demographics, June 2012
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- Figure 103: Agreement with the statements ‘I often buy things because I know my family would like them’, ‘When I feel low I like to spend money to cheer myself up’ and ‘My family influences what I buy’, by demographics, June 2012
- Figure 104: Agreement with the statements ‘I don’t have enough time to enjoy my success’ and ‘I/my partner are active in a society or club (wine, golf, charities)’, by demographics, June 2012
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- Figure 105: Agreement with the statement ‘I/my partner often host gatherings (dinners, parties, fundraisers) at our home’, by demographics, June 2012
- Figure 106: Amount donated to charity over the past year, by demographics, June 2012
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Appendix – Holiday Habits and Property Ownership
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- Figure 107: Number of holidays taken in the past year, by demographics, June 2012
- Figure 108: Amount of money spent on holidays in the past year, by demographics, June 2012
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- Figure 109: Most popular holiday habits, by demographics, June 2012
- Figure 110: Next most popular holiday habits, by demographics, June 2012
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- Figure 111: Property ownership, by demographics, June 2012
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Appendix – Sources of Influence and Self-Image
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- Figure 112: Agreement with the statements ‘My friends and colleagues place a high value on my opinion’ and ‘I like to fit in with others in my crowd/my group of friends’, by demographics, June 2012
- Figure 113: Agreement with the statements ‘I tend to be the leader in my professional circle’ and ‘I tend to be the leader in my group of friends’, by demographics, June 2012
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- Figure 114: Agreement with the statements ‘Generally, I place more value on advice from someone I know’ and ‘Generally, I place more value on advice by experts’, by demographics, June 2012
- Figure 115: Most popular sources informing purchasing decisions, by demographics, June 2012
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- Figure 116: Next most popular sources informing purchasing decisions, by demographics, June 2012
- Figure 117: Other sources informing purchasing decisions, by demographics, June 2012
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- Figure 118: Least popular sources informing purchasing decisions, by demographics, June 2012
- Figure 119: Agreement with the statements ‘I want to stand out in the crowd’ and ‘I like people to admire things I own’, by demographics, June 2012
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- Figure 120: Agreement with the statements ‘I do my own thing, regardless of the current trends’ and ‘I like to follow latest fashion trends’, by demographics, June 2012
- Figure 121: Agreement with the statements ‘I look after my appearance/my image’ and ‘It’s important for me to look well-dressed’, by demographics, June 2012
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- Figure 122: Agreement with the statements ‘Sometimes I treat myself to something I don't need’, ‘I want to get to the very top in my career’, and ‘I am perfectly happy with my standard of living’, by demographics, June 2012
- Figure 123: Repertoire of sources informing purchasing decisions, by demographics, June 2012
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