When asked about their purchasing intentions for 2004, the “Elite Affluent”—those with a net worth (assets minus liabilities) of $1 million or more—said they planned to splurge on luxury goods, including jewelry. That’s according to results of the Elite Traveler/Prince and Associates Luxury Spending Survey released in November 2003.
Household Luxury Purchasing Net Worth Ranges
| Intent for Next 12 Months | $1M-$5M | $5M-$10M | $10M+ |
| Methodology: Some 430 individuals with a net worth (assets minus liabilities) of $1 million or more were interviewed by phone in October 2003. Those profiled include 47.8% with a net worth of $1 million-$5 million, 31.1% with a net worth of $5 million-$10 million, and 21.1% with a net worth of $10 million+. | |||
| Spend $20,000+ on apparel | 11.2% | 28.4% | 83.5% |
| Spend $10,000+ on accessories (shoes, handbags, luggage) | 15.0% | 34.3% | 64.8% |
| Spend $10,000+ on watches and jewelry | 11.7% | 29.9% | 93.4% |
| Spend $5,000+ on a watch only | 1.5% | 7.5% | 48.4% |
| Shop at least four times annually at Neiman Marcus or Bergdorf Goodman | 35.0% | 22.4% | 36.3% |