Strategy Briefing

The Wealth Report: How To Win The High Net Worth Market

40 pages, Aug 2018

US$1,325

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About This Report

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In spite of the small number of consumers, the high net worth market globally is highly profitable for brands and businesses. But it is not an easy market to crack, with brands that have identified HNWIs as a growth opportunity often facing a similar question of how to win over high net worth consumers. This report provides insights into key wealth markets, and strategies that help brands meet the needs of HNWIs and thereby gain and retain high net worth consumers.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

A small but highly profitable consumer segment

The high net worth consumer segment accounts for only 0.1% of the global population but commands more than a fifth of the world’s total wealth. This segment is not only an important driver of wealth generation and investment trends, but also a highly profitable consumer segment for brands and businesses.

USA is the single most important high net worth market

In 2017, the USA accounted for 57.9% of the global overall HNWI population and 55.1% of global HNWI wealth. The country’s strengthened economic and business conditions –with fiscal stimulus, deregulation and lower tax rates –will likely raise financial asset prices, with positive knock-on impact on HNWI wealth.

China will be an important driver of wealth

China’s emergence as a global economic powerhouse has made it a significant engine of HNWI growth and wealth creation. By 2022, the country is expected to rank second in terms of HNWI wealth, up from the current fourth position. Targeting the newly wealthy such as those in China is an effective strategy to help businesses targeting this segment achieve growth.

Strategies to capture high net worth consumers

As well as targeting the newly wealthy, other strategies to successfully capture the profitable high net worth market include providing seamless omnichannel ease, personalised solutions, authenticity, exclusive experiences that money can’t buy, and promoting health and wellness.

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Introduction

Scope

Key findings

The high net worth club

Rising number of ultra-HNWIs since 2008

Ultra-HNWI population and wealth is highly concentrated

A look beyond North America

North America also dominates the HNWI sub-segment

Key Wealth Markets

Top high net worth markets

USA: positive wealth prospects

Japan: weakest wealth growth among key markets

Germany: highly unequal distribution of wealth

China: a robust engine of wealth creation

United Kingdom: HNWI immigration is set to continue

How To Capture High Net Worth Consumers

Global luxury goods sales is posting healthy growth

Luxury cars account for over half of global luxury goods sales

Challenges in reaching high net worth consumers

Strategies to win over high net worth consumers

The newly wealthy hold the key to business growth

Behaviour of the newly wealthy

Harrods : targeting the newly wealthy

HNWIs increasingly demand seamless omnichannel ease

LVMH : offering a seamless, integrated brand experience

Healthy living is the new wealthy living

Dream Cruises : in pursuit of health and wellness

Personalisation

Miu Miu : made for you

Authenticity

Shang Xia: capturing the “authenticity” of Chinese art and culture

Many high net worth purchases are based on personal enjoyment

McLaren : indulging customers in experiences money can’t buy

Conclusion

The USA to remain by far the most important high net worth market

China to boast the second largest HNWI wealth…

… and to drive global luxury goods sales

Downward trend in Algeria, Argentina, Nigeria and Venezuela

Marketing to HNWIs: what do you need to know?

Why buy this report?

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Megatrends

Strategy Briefing

The Wealth Report: How To Win The High Net Worth Market

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

A small but highly profitable consumer segment

USA is the single most important high net worth market

China will be an important driver of wealth

Strategies to capture high net worth consumers

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

The high net worth club

Rising number of ultra-HNWIs since 2008

Ultra-HNWI population and wealth is highly concentrated

A look beyond North America

North America also dominates the HNWI sub-segment

Key Wealth Markets

Top high net worth markets

USA: positive wealth prospects

Japan: weakest wealth growth among key markets

Germany: highly unequal distribution of wealth

China: a robust engine of wealth creation

United Kingdom: HNWI immigration is set to continue

How To Capture High Net Worth Consumers

Global luxury goods sales is posting healthy growth

Luxury cars account for over half of global luxury goods sales

Challenges in reaching high net worth consumers

Strategies to win over high net worth consumers

The newly wealthy hold the key to business growth

Behaviour of the newly wealthy

Harrods : targeting the newly wealthy

HNWIs increasingly demand seamless omnichannel ease

LVMH : offering a seamless, integrated brand experience

Healthy living is the new wealthy living

Dream Cruises : in pursuit of health and wellness

Personalisation

Miu Miu : made for you

Authenticity

Shang Xia: capturing the “authenticity” of Chinese art and culture

Many high net worth purchases are based on personal enjoyment

McLaren : indulging customers in experiences money can’t buy

Conclusion

The USA to remain by far the most important high net worth market

China to boast the second largest HNWI wealth…

… and to drive global luxury goods sales

Downward trend in Algeria, Argentina, Nigeria and Venezuela

Marketing to HNWIs: what do you need to know?

Why buy this report?

Want to find out more about this report?

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