At Least 95% of Affluent Americans Plan To Vote in November, According To the Fall 2008 Tracking Study Of The Affluent Market

2008-11-07 20:42:02 -

- Research and Markets (www.researchandmarkets.com/research/0eaaa7/fall_2008_tracking) has announced the addition of the "Fall 2008 Tracking Study of the Affluent Market--#14" report to their offering.

This national survey included 552 men and women in households with an average annual income of 304,000, an average net worth of 3.1 million, average investable assets of 1.6 million, and an average primary residence value of 1.2 million. This is the 14th in a continuing series of twice-yearly surveys of the wealthiest 10% of U.S. households, based on net worth, as determined by Federal Reserve Board research.

Unlike other affluent and luxury market research that is based on online surveys of panels of people who are compensated for participating in regular and frequent surveys, our unique studies are based on samples drawn at random to be representative of the precisely defined population of affluent households, consistent with the research of the Federal Reserve Board. Confident of their anonymity, the respondents to our surveys are typically more affluent and more open in providing confidential information.

Index values shown in this report can range from 0 (negative) to 200 (positive), with an index of 100 being a neutral reading.

Major Findings

Perhaps reflecting the continued stock market volatility and the turmoil in both the housing and credit markets in September, the index of 47 for current business conditions represents a further drop of five (5) points (10%) from the Spring 2008 survey, which had dropped precipitously from the Fall 2007 survey. The current index essentially equals the historic low for this series of surveys, which was recorded in Fall 2002 during the lead up to the Iraq war. Women and those at the higher levels of income, net worth, and investable assets tend to be the most negative about current business conditions.

The composite Affluent Consumer Expectations (ACE) 12-Month Economic Outlook Index of 113 is well above the Spring 2008 survey and represents a relatively positive outlook, despite the negative index for household income, one of the three elements of this composite index. This level of future optimism may be indicating a perception that the economy is bottoming out and that some level of improvement is expected in the two other elements of the composite index, business conditions (index of 123) and the stock market (index of 124), in the next 12 months.

The index for household income (93), while only slightly negative, is at the lowest level since this survey began. Plans for savings now equals the previous lowest level (95) that was recorded in the Fall 2005 survey, just after Hurricanes Katrina and Rita. The concern about reduced income and the ability to save is likely to have influenced the future spending plans that are presented in this report.

The word "luxury" appears to have a rather ambiguous meaning for the affluent. This is evidenced by the broad range of price points that the affluent use to define luxury for the 37 different products and services measured and their apparently limited familiarity with the brands normally associated with luxury.

Affluent men tend to be Republicans or independents (other), while affluent women are more likely to be Democrats and are almost evenly split among the three groupings. The higher income and net worth groups are more likely to be Republicans. Obama receives almost a third of his support from independents (other).

At least 95% of affluent Americans plan to vote in November, with men being slightly more likely than women. The more mature, higher income, higher net worth, and Republican groups are slightly more likely to vote.

With appropriate weighting for gender and likelihood of voting, Obama and McCain are tied at 48% of the affluent voters for each. The sample is representative of about 23 million affluent voters who will account for over 20% of the total vote. Senator McCain is most favored by men, those over 60 and the wealthiest net worth group (6M+). Senator Obama is most favored by women, those under 50, the lowest net worth group (under 1.5M), and independents (other).

The five issues most important to McCain supporters are state of the economy, war on terrorism, war in Iraq, long-term energy program and 2001 Bush tax cuts. For Obama supporters, the most important issues are the economy, war in Iraq, universal healthcare, foreign policy and energy program.

Note: Price includes Full Report + 302 pages of cross-tabulated data.

For more information visit www.researchandmarkets.com/research/0eaaa7/fall_2008_tracking

Research and Markets
Laura Wood
Senior Manager
press@researchandmarkets.com
Fax from USA: 646-607-1907
Fax from rest of the world: +353-1-481-1716