According to a newly report by Mintel, more than three-fourths (78%) of “mass affluent” consumers* in the US have not changed their credit-card payment behavior because of the recession, but Hispanics and younger members of this well-to-do group are most likely to say they have.
The research reveals that the majority of mass affluents (62%) pay off the balances on all their credit cards each month. Only a small minority (5%) pay the minimum amount due.
However, though most mass affluents are paying off their credit cards each month, many nonetheless feel deeply affected by the faltering economy:
- More than half (55%) say they’ve cut down or deferred overall spending because of the recession.
However, though most mass affluents are paying off their credit cards each month, many nonetheless feel deeply affected by the faltering economy:
- More than half (55%) say they’ve cut down or deferred overall spending because of the recession.
- Only 48% of total mass affluents say they currently “feel financially secure.”
- Slightly more than one-third (36%) of Hispanic mass affluents report feeling “financially secure.”
- Hispanics, under 45s feel the pinch most. 50% said they’ve changed their payment behavior.
* Mass affluent households, as defined by Mintel, are those with between $100,000 and $1 million in investable assets. According to Mintel, these households currently comprise 10% of the US population.
No comments:
Post a Comment