HENRYs provide answer to retail’s slowed growth: report

Do you know the Henrys’, this new affluent consumer class – High Earners Not Rich Yet-?This affluent luxury consumer group has been identified as being around 43 years of age on average, with an income of more than US$100,000 and investable assets of less than US$1m.“With ‘Henrys’ likely to become of some of the wealthiest members of society, the potential benefits of onboarding this demographic to luxury brands’ product and service portfolios are twofold: securing valuable present customers and building client relationships and business with those might likely to be among the most affluent customers in future,” the Deloitte’s Global Powers of Luxury Goods 2019 report says.

Source: https://www.thedrum.com/opinion/2020/01/15/hurrah-the-henrys-the-new-luxury-consumers