Affluent Consumers Not Likely to Change Spending Habits Despite Economic Slowdown,...

Affluent Consumers Not Likely to Change Spending Habits Despite Economic Slowdown, Per Phoenix Marketing International Research Study

"Recession? What recession?" typifies attitude of majority of
country's wealthy consumers
RHINEBECK, N.Y.--(Business Wire)--
The plummeting stock market, eroding value of the dollar, and
soaring gas prices have not curtailed spending habits or altered
positive economic outlooks of the majority of the country's wealthy
households, according to a survey completed in February by Phoenix
Marketing International's Affluent Marketing Practice.

Slightly more than one half - 56 percent - of households with
investable assets greater than $250,000 stated that their
discretionary spending remained the same over the previous three
months. Another 20 percent of those interviewed by Phoenix researchers
actually increased their spending during the same period.

The slackening economy had even less impact on households with
assets in excess of $1 million dollars, according to David Thompson,
managing director of Phoenix Affluent marketing. Eighty-six percent of
millionaires surveyed expected their spending to remain the same or
increase for the March-May 2008 time period. The 20 percent of
affluent responders who said they may decrease their discretionary
spending in the near term cited dining out, entertainment, clothing
and jewelry, and leisure travel as the categories likely to bear the
brunt of the decreases.

"Affluent consumers are all-important bellwethers in the drive to
bring our economy back to life," remarked Thompson. "Their willingness
to keep spending despite all the doom and gloom remains a beacon of
hope for marketers in the United States."

For additional results from this latest Phoenix survey on the
spending habits of high-net worth households, including latest data on
what this segment believes is the most important issue in the upcoming
presidential election, visit
http://www.phoenixmi.com/about/news//2008030312.phtml.

About Phoenix Affluent Marketing

The Phoenix Affluent Market Service (AMS) offers both custom
research and syndicated solutions to assist clients in understanding
trends and issues that impact the affluent and high net worth markets
and in developing strategies for revenue growth.

Our Affluent Marketing research platforms are the foundation of
our custom research practice. These rich, syndicated databases give
clients a competitive advantage through unprecedented access to
mainstream affluent, high net worth, and ultra high net worth
households. We can profile markets or determine competitive issues
that prepare clients for a custom research engagement;
http://www.phoenixmi.com/financial/ams.phtml

About Phoenix Marketing International

Founded in 1999, Phoenix Marketing International is one of the
fastest growing marketing services firms in the United States. With
offices across the country and partnerships with many of the largest
companies in the financial services, consumer package goods,
automotive, healthcare, and travel and leisure industries worldwide,
Phoenix also offers advanced advertising and brand measurement along
with direct marketing expertise.

Phoenix Marketing Contact:
Phoenix Affluent Market Practice
David Thompson, 860-653-1720
Managing Director
david.thompson@phoenixmi.com
or
Press Contact:
Graber Associates LLC
Ray Graber, 781-221-0018
ray@graberassociates.net

Copyright Business Wire 2008