The American consumer economy totals $13.3 trillion dollars. It is widely reported that American women control or influence some 80% of all dollars spent – or some $10.6 trillion. But not all
American women are equal in spending power. That is determined by her income level and wealth.
Today the most powerful and empowered income segment are those in the $100k to $250k range, which represent about 21% of the nation’s 131 million households. This group is called the HENRYs – high-earners-not-rich-yet. They make only about one-fifth of all U.S. households but account for some 36% of all U.S. consumer spending — $4.8 billion.
If women control 80% of U.S. household purse strings and HENRYs command 36% of all dollars spent in the economy, then HENRY women represent the single most important consumer segment in the economy today, accounting for $3.8 trillion in spending power. By contrast, ultra-affluent women (HHI $250k+) collectively have only about $1.1 trillion in spending power. The reason: there are far fewer ultra-affluent women than HENRY women in the economy.
Understand your next-generation female customer
Pamela Danziger, author of Meet the HENRYs, has prepared this detailed 130+ page report that explains the demographics of the HENRY woman, how she shops, what she buys, and most importantly, her motivations and consumer psychology that guide her in purchases for herself and her family.
This report answers these four critical questions about HENRY women:
- Who she is
- How she shops
- What she wants
- How to attract her to your brand
In particular, it explains the opportunities for luxury brands to connect with young HENRY women, who may not have the spending power of her ultra-affluent sisters now but are likely to have it in the future. Drawing examples from relevant brands that are most attractive to young HENRY women, this report will guide marketers to engage and profit from this most powerful and empowered consumer segment critical to the future of consumer brands.
Get this special report, The HENRYs After COVID-19: What Comes Next for the Luxury Market, free with your subscription
In addition with your subscription to this report, you will also receive the latest trend report, The HENRYs After COVID-19, which explores what the new-normal, post-coronavirus world will look like from the perspective of the HENRYs and ways that luxury brands can connect with them.