Doug Gollan: Selling to the Super Rich -- Ideas, Research and News for luxury marketers
What do the Super Rich spend their money on? When we interviewed over 600 Ultra High Net Worth (UHNW) private jet and fraction jet share owners for “The Sky’s the Limit: Marketing to the New Jet Set” Home Improvements was number one.
Of course, when one considers those surveyed average three homes, spending just over a half million dollars a year can go quickly.
Spending nearly a quarter million dollars on fine jewelry was a combination of six figure purchases and ongoing buying at accessible price points. You know, pop into Neiman Marcus, pick up a couple new outfits and then accessorize with a new $2,000 bracelet and $4,000 earrings. When one considers the cost of flying privately is somewhere between $5,000 and $20,000 per hour, all of the other spending equates to you or I popping down to Starbucks and splurging on a large premium coffee.
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