Who Are the HENRYs? What Do They Want? Why Do They Matter?
HENRYs (high-earners-not-rich-yet) describes a demographic segment of customers with incomes from $100k-$249.9k. They don’t think of themselves as affluent or luxury class. Quite the opposite: they view themselves as middle-class. But unlike the traditional middle-income customers who lost over $4,000 of income in the recession, HENRYs still have spending power.
HENRYs are the new mass-market customers with discretion.
Stevens, PA — Internationally recognized speaker, author and market researcher, Pamela N. Danziger, has just released a new mini-book, entitled What Do HENRYs Want? It will help retailers and marketers unlock the spending power of HENRYs, the new mass-market customer with discretion and the future customers of luxury brands.
HENRYs are poorly understood by marketers who traditionally sell to the masses, and often overlooked by those targeting the luxury affluent segment.
What Do HENRYs Want? uncovers the new demographic segment of consumers key to marketing success in this slow-growth post-recession period. The HENRYs (High-Earners-Not-Rich-Yet) customers have household incomes from $100k-$249.9k. That puts them ahead of nearly 80% of all U.S. households, but still below that of the Ultra-affluents with incomes of $250k and above.
“HENRYs are poorly understood by marketers who traditionally sell to the masses, and often overlooked by those targeting the luxury affluent segment. The HENRYs are heavy-lifters in the consumer economy, accounting for some 40% of the nation’s personal consumption expenditures. They are the mass-affluent demographic and have significantly greater spending power than middle-income consumers. But they think of themselves as ‘middle-class.’ Plus they are the gateway to the future for luxury brands, as most people on the road to affluence start out as HENRYs before they reach Ultra-affluent income levels,” explains Pam Danziger, author and president of Unity Marketing.