[jdot]

Which brands make the rich happy?

AP
Luxury fashion brands like Louis Vuitton were more likely to make affluent consumers under 40 years old happy than those over 40 years old.
A new study from the Affluence Collaborative, a research project formed by several marketing groups, attempted to answer that question, and found that the top brands on that list are all technology names.

That may help to explain why sales of iPhones and other gadgets were so resilient throughout the Great Recession. After the top 10 percent of all Americans control about 70 percent of the wealth, and an even greater percentage of discretionary spending power.

The brands that top the list are Apple [AAPL 268.30 1.60 (+0.6%) ], Microsoft, Best Buy [BBY 35.35 0.19 (+0.54%) ], and Sony.

Some of those brands were also preceived as the most innovative. Apple was thought to be the most innovative, followed by Microsoft [MSFT 24.31 -0.2225 (-0.91%) ] and Sony [SNE 27.16 -0.17 (-0.62%) ], then automakers BMW [BMW 40.36 --- UNCH ] and Mercedes.

What's more, about 81 percent of the total sample reported that the recent acceleration in technology has also added to their level of enjoyment and happiness.

Even though sales of Louis Vuitton held up well throughout the recession, it was the brand most often called "boring" by the wealthy individuals who answered the Affluence Collaborative's survey.

In fact four of the five brands considered "most boring" were fashion names: Juicy Couture, Prada and Saks Fifth Avenue [SKS 8.23 --- UNCH ].

Coffee giant Starbucks [SBUX 26.39 -0.42 (-1.57%) ] rounded out the list of the top five most boring brands. But about 20 percent of those surveyed also said Starbucks makes them happy.

This response also seems to be keeping with the new attitudes that have emerged post recession.

According to those in the survey, many wealthy consumers still don't want their purchases to appear excessive, with many respondents saying that they are finding new satisfication in saving.

This makes this research yet another piece of evidence reinforcing the view that consumers are holding on to the thrifty habits they developed in the depths of the economic crisis.

Earlier this week, Principal Financial's Well-Being Index painted a picture of a consumer who was to emphasis savings, paying off consumer debt, and keeping spending in check.

In that study, three out of five—some 61 percent of workers, and 55 percent of retirees—said they have reduced their spending in the past two months due to the economy. Of those, the majority said they plan to continue to spend less in the future regardless of economic conditions.

But wealthier consumers may be in a better place. Research conducted by Consumer Edge Research this month showed a growing divide between the attitudes of lower- and middle-income consumers and their wealthier counterparts.

According to Consumer Edge, wealthier households are more optimistic than other income groups, which have shown a deteriorating outlook for business conditions and jobs in the lastest month. And this is showing up in their spending patterns. More affluent households are thinking about buying cars, computers, televisions and other electronic items. However, at the same time, more reported using coupons, looking for cheaper brands, and sticking to a budget.

It will be interesting to see if this pattern is reflected in next Tuesday's consumer confidence index. Earlier Friday, consumer sentiment, as tracked by the Thomson Reuters/University of Michigan survey, rose to its highest level since January 2008.

HAPPY BRANDS
Brands That Make You Happy... Percentage of Total Sample
Apple 27%
Microsoft 24%
Best Buy 22%
Sony 20%
Starbucks 20%
BMW 19%
Godiva 18%
Ghirardelli 15%
Mercedes 13%

http://classic.cnbc.com/id/37925845

Just wanted to share something with you guys! Hope everyone's BMW is still keeping them happy! I know I am!

[scott@bmwhn]

sweet..we beat out chocolate. Take that Mercedes! lol

[jc_lbc]

Since when do affluent people like Best Buy?!? They're pretty much the Wal-mart of consumer electronics. I'd prefer to stay home and pull out my nose hairs with tweezers then set foot in one of their stores. Maybe I don't have enough money to "get it."

[stickypaws]

Best Buy?
Godiva?
Sony?
Starbucks?

Affluent people with bad taste. Having money doesn't mean you have a discerning mind. Look at Donald Trump.

[josephr25]

My mom loves LV because she never buys anything nice for herself, until recently. Her friend has 40K worth of it too. They're both well over 40.

[Mr. ///M3 RD]

I think BMW then Apple followed by Sony are my three top items and oh yes a glass of red daily makes me happy to at the end of the day I did purchase a new 2008 last year then traded it in for the German build Z4 I now drive that really made me happy. just preferred the quality of the 2009 over the 2008. On my 2008 things were falling apart like the plastic housing around the rear view mirror and the plastic cover just above the ashtray. Dealers response did not make me happy. On the mirror the dealer said I hate this cover and on the cover his fix would have been to weld a bar across it to hold it in place. That sure did not make me happy at all.

[MJC///M3]

while not rich....(hope to be one day)

my top 3-list would be:

1. BMW
2. ROLEX
3. APPLE

[Mr. ///M3 RD]

MJC///M3

Just follow the old man's advise and you will get there. Also if there is something you are very good at then turn it into a business if you can. Remember you will never ever get rich working for others, once you work for yourself you might. Next always have a Plan B if plan A does not work out go to plan B

Albert Einstein once said ... "In the Middle Of Difficulty Leis Opportunity"

An Unknown Author once said ... "Some People Make Things Happen, Some Watch Things Happen, While Others Wonder What Has Happened"

Both the above are graved in stone and have been on my desk for over 30 years. I wish you all the best to achieve your goal of the BMW, Rolex and Apple products, for those things are the payback of hard work

[Mr. ///M3 RD]

Originally Posted by scott@bmwhn

sweet..we beat out chocolate. Take that Mercedes! lol

Scott,

Why would you take the Mercedes over the Bimmer Scott? Of the two makes I had 3 Mercedes and 4 Bimmer's in my life time I take a Bimmer over a Mercedes in a heartbeat

I always wondered how many people lay down hard cash when they purchase a car from you? What would you say is the percentage?

[MJC///M3]

Originally Posted by Rolf-Dieter

MJC///M3

Just follow the old man's advise and you will get there. Also if there is something you are very good at then turn it into a business if you can. Remember you will never ever get rich working for others, once you work for yourself you might. Next always have a Plan B if plan A does not work out go to plan B

Albert Einstein once said ... "In the Middle Of Difficulty Leis Opportunity"

An Unknown Author once said ... "Some People Make Things Happen, Some Watch Things Happen, While Others Wonder What Has Happened"

Both the above are graved in stone and have been on my desk for over 30 years. I wish you all the best to achieve your goal of the BMW, Rolex and Apple products, for those things are the payback of hard work

Very moving and inspiring words.....thank you very much!

trying my best to follow in my dad's words.....hopefully I'm on the path that leads to the top!

[3lusive]

Originally Posted by Rolf-Dieter

Scott,

Why would you take the Mercedes over the Bimmer Scott? Of the two makes I had 3 Mercedes and 4 Bimmer's in my life time I take a Bimmer over a Mercedes in a heartbeat

I always wondered how many people lay down hard cash when they purchase a car from you? What would you say is the percentage?

He means that the ratings are an insult to Mercedes, not that he'd buy one over a bimmer

[jeremyc74]

Originally Posted by jc_lbc

Since when do affluent people like Best Buy?!? They're pretty much the Wal-mart of consumer electronics. I'd prefer to stay home and pull out my nose hairs with tweezers then set foot in one of their stores. Maybe I don't have enough money to "get it."

Go to a Best Buy in an affluent area and you'll have a different perspective.

http://www.bestbuy.com/site/Electron...at139900050002


Besides that, if you're shopping for computers or TVs, or appliances, or just about any kind of electronics, they've got a huge selection and reach far enough up the scale to satisfy 95% of the population. If you're a true audiophile you're not going to be happy shopping for audio gear there, but they're still one of the better choices for all kinds of other electronics, and have some very high end stuff that can be special ordered. Not to mention they're everywhere and have good customer support.

[scott@bmwhn]

Originally Posted by 3lusive

He means that the ratings are an insult to Mercedes, not that he'd buy one over a bimmer

^ this

[Mr. ///M3 RD]

Originally Posted by 3lusive

He means that the ratings are an insult to Mercedes, not that he'd buy one over a bimmer

ah so ... thanks for clarifying that my bad

[jc_lbc]

I've been to Best Buy in multiple affluent areas—I live in SoCal after all—and it still sucks IMO. Their business model is to use their "electronics items" as a loss leader and get you to grossly overpay for junky accessories and unnecessary aftermarket warranties. Circuit City shit the bed last year and they had the same exact racket going.

Originally Posted by jeremyc74

Go to a Best Buy in an affluent area and you'll have a different perspective.

http://www.bestbuy.com/site/Electron...at139900050002


Besides that, if you're shopping for computers or TVs, or appliances, or just about any kind of electronics, they've got a huge selection and reach far enough up the scale to satisfy 95% of the population. If you're a true audiophile you're not going to be happy shopping for audio gear there, but they're still one of the better choices for all kinds of other electronics, and have some very high end stuff that can be special ordered. Not to mention they're everywhere and have good customer support.