Demo Watch: Middle-Class Millionaires

Too often we hear the words "blue collar" and "middle class" but what do these terms mean in today's society? Do you consider "middle class" persons wealthy? What if I told you that thre are 8.4 million middle-class millionaires in today's society. Middle-class millionaires, a segment of the population making between $1MM and $10MM, is the second fastest growing sector in the United States today (only to the "about-to-be-a-millionaire" families with a net worth between $500K and $1MM).

But who exactly are middle-class millionaires, outside of their financial status?

Middle-class millionares:

• Are driven individuals, working long hours
• Consider themselves simply "middle class"
• Are 50 percent more likely to say that they 'tell lots of other people about products or services' than the average middle class individual
• Are generally considered early adopters - among the firt people to try out a new product or service
• A populous growing at a rate of 15% every three (3) years
• Are reportedly consulted for advice on what to buy five (5) times more often than normal middle class persons
• A phenomenon deemed "the influence of affluence"

Why is this important to you as a sports marketer? During the next decade, there could be 15-20 million middle-class millionaire households in the United States alone - the majority of whom are baby boomers. This is great news for a sports industry that has seen continous increases in sponsorship spending, ticket prices, and player salaries.