WHO Spends the most MONEY?
Honestly this is almost a Duh Moment. However, may I point out who has the money? If you’ve read my past posts, you understand those 45+ are the ones with the wealth. And according to this, they are not afraid to spend some of it. So you are YOU focusing on? You CANNOT ignore the under 45 crowd, but if you are putting all your eggs in that basket, you are missing out on those who don’t mind spending and have the discretionary funds to do that.
Interesting; if you want to reach the affluent group, they still use a lot of traditional media. And they’re actively on line, especially Facebook. You combine the new with the old, and watch your bottom line soar. Mike
Self-reported daily spending by American adults reached $109 in July, the highest monthly average in almost a decade (since May 2008), per Gallup. The results are based on daily tracking surveys which measure self-reported “yesterday” discretionary spending – on items excluding household bills and major purchases.
July marks the 6th consecutive month in which daily spending has topped $100 on average. To give a sense as to how things have come since the recession, July spending bottomed out at $62 per day in 2009, before gradually increasing in the years since.
One interesting finding in Gallup’s survey relates to the gap in discretionary spending between higher- and lower-earning households.
Specifically, adults living in households with at least $90k in annual income reported spending an average of $178 per day during July. That was more than twice the amount spent by adults living in households with less than $90k in annual income ($80).
A review of trending monthly data over the past 12 months shows that this pattern is by no means an aberration: higher-income adults consistently spend at least twice as much as lower-income adults on a daily basis.
About the Data: Results for the Gallup spending data covering July 2017 are based on telephone interviews conducted July 1-30, 2017, on the Gallup U.S. Daily survey, with a random sample of 14,710 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.