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Affluent Men Spend Twice As Much on Holiday Gifts for Their Spouse as Women Do
Men reported spending much more in 2004 than women on December
holiday (Christmas and Hanukah) gifts in a recent survey of the
wealthiest 10% of U.S. households. The differences in 2005 gift
expenditures will be about the same or a little greater, as men
plan to reduce their spending less than women in 2005.
Men reported spending an average of $1,212 on holiday gifts for
their spouse, more than double the average $568 spent by women
on their spouse. Spending by men (and women) for holiday gifts
was $948 ($604) for children under 18, $1,896 ($1,044) for
children 18 and over, $734 ($549) for other relatives, and $523
($395) for friends.
Average gift expenditures for a spouse were highest among those
60 and over ($1,575 versus $740 for those under 60) and those
with a net worth of $6 million or more ($2,617 versus $744 for
those with a net worth of $1 to $6 million). Those with an
income above $200,000 averaged $1,188 versus $601 for those
under $200,000 in income.
Average gift expenditures for children under 18 were highest
among those 60 and over ($3,835 versus $760 for those under 50),
those with a net worth of over $6 million ($1,395 versus $759
for those with a net worth of $1 to $6 million), and those with
the higher income ($897 versus $607 for those with incomes above
and below $200,000 respectively).
Average gift expenditures for children 18 and over were highest
among those over 60 ($2,226 versus $1,191 for those 50 to 59),
those with a net worth over $6 million ($4,097 versus $1,219 for
those with a net worth of $1 to $6 million), and those with the
higher income ($2,075 versus $1,092 for those with incomes above
and below $200,000 respectively).
Average expenditures for other relatives and for friends showed
a pattern similar to that of children, but the differences were
somewhat smaller.
The average expenditure of spenders, weighted by the percent
buying for that type of person, totaled $2,807 for the people
represented by this survey. That is about five times the average
of $565 for all adults, based on a recent survey for The
National Retail Federation.
These results were obtained from the recently completed Fall
2005 "Affluent Market Tracking Study #8" by The American
Affluence Research Center. A continuing series of twice-yearly
surveys, these studies track the 12- month economic outlook and
spending plans of the wealthiest 10% of Americans, the 11
million households representing about half of all consumer
income and spending and a third of the total US economy. These
are the consumers who have helped the more upscale retailers to
out perform others in recent years.
The survey participants were asked to identify the people to
whom they would give holiday gifts this year. They were then
asked how much they had spent on those people in 2004 and by how
much their expenditure would change in 2005.
Highlights of the national survey of 448 men and women in the
wealthiest 10% of U.S. households can be found on the AARC
website, www.affluenceresearch.org. The survey participants have
an average income of $308,000 and an average net worth of $2.7
million. The survey has a 5% margin of error at the 95%
confidence level.
About the author:
Ron Kurtz is a principal of The American Affluence Research
Center and The Management Resource Group. Both companies provide
marketing research and strategic planning services to prominent
clients in the travel and hospitality industries, especially
those targeting the affluent market.
Ron earned his MBA at Harvard Business School.
For further information: http://www.affluenceresearch.org and
http://www.mrgconsultants.com
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