Affluent Americans spending on outdoor improvements, study says

Affluent Americans -- or those making $100,000 or more annually -- are spending more on their outdoor living spaces, according to a study by Unity Marketing.

Spending by this group on outdoor living luxuries rose 22.6% from 2007 to 2008, and the trend has continued in the first quarter of 2009, with spending up 33% over the same quarter last year.

The Unity Marketing report -- called ATrend Report on the Market for Outdoor Living Products -- is based on quarterly surveys among 1,000 to 1,200 affluent consumers conducted in 2007, 2008 and the first quarter of 2009. 

Benefiting most from increased spending on outdoor living goods are big-box home improvement stores like Home Depot and Lowe’s, where the average amount spent by affluent shoppers surged 24% in the first quarter of 2009 compared with the same period last year.

“In the current recession, affluent consumers are investing more in luxuries for their homes and less on experiences, such as dining and travel,” says Pam Danziger, president of Unity Marketing, commenting on the company’s latest survey of luxury consumers. “Opportunities abound for marketers and retailers that tap into the product categories where affluents are still willing to indulge, like the outdoor living areas of their homes.”