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Luxury Consumer Research---Affluent Market for Vacation Homes Looks Gloomy for Full Ownership and Pr Marketing Articles | June 12, 2009 Just over one- third indicated familiarity with the private residence club concept, with 3 in 10 indicating familiarity with the destination club concept. Among those indicating familiarity with the private residence club concept, 72% did not name a brand or company with which they are familiar.
The potential market for vacation homes, including full ownership and private residence and destination clubs Cheap Eric Tomlinson Jersey , has declined substantially from 2007 levels, reflecting losses in net worth and a negative 12-month outlook for the economy and personal income among the wealthiest 10% of US households surveyed in March 2009 by The American Affluence Research Center.
The American Affluence Research Center has studied this market every 2 years since 2005. The? Spring 2009 Affluent Market Tracking Study #15 includes relevant comparisons to the 2007 survey results.
Only 4.1% of the respondents indicated serious consideration of the acquisition of a wholly-owned second home during the next 12 months versus 9.8% in 2007. Intent to consider a time share or a private residence or destination club totals less than 1% and is essentially unchanged from 2007.
About 6 in 10 of the affluent market indicate no familiarity with either the private residence or destination club concepts, despite the growth in the numbers, the marketing expenditures, and the media exposure of companies offering these concepts. This represents little or no change in the level of concept familiarity over the past two years. Just over one- third indicated familiarity with the private residence club concept, with 3 in 10 indicating familiarity with the destination club concept. This represents some modest improvement from the 2007 study for both.
Concept familiarity is highest among the higher income and net worth groups. For the private residence club concept Cheap Brandon Shell Jersey , familiarity is about 45% among both the $200K+ income and $1.5M+ net worth segments. For the destination club concept, familiarity is about 40% among the same 2 segments.
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