(IDEX Online News) – The Great Recession did not eat into wealthy families’ income levels as much as feared, based on data just released from the U.S. Census Bureau. In 2010, 20.5 percent of all American households reported incomes of $100,000 or greater.
Source: Census Bureau |
This is great news for jewelers: higher income families – roughly 20 percent of all American households – account for nearly half of all jewelry expenditures in the
U.S. market. They spend dramatically more on
jewelry than middle a
nd lower income families.
This research by the Census Bureau confirms that the propensity for jewelry purchases among America’s wealthy families – those earning $100,000 or more annually – remains very high.
$100,000 Households Still One-Fifth of U.S. Population
In 2010, 20.5 percent of all American households reported incomes of $100,000 or more. While this is down from the peak of 21.9 percent in 2007, it is above earlier estimates of only 19 percent for 2010.
The table on the right summarizes the increase over the past forty years in American households with $100,000 or more annual income. The income levels are stated in 2010 dollars; thus, these are real gains in household income levels.
High-Income Households Hold Most Potential for Jewelry Expenditures
High-income households – the 20 percent of all U.S. high-income households with incomes over $100,000 annually – make 48 percent of all jewelry expenditures each year, as the graph below illustrates.
