Search by name, company, title, location, etc.

Stephen Kraus

Member since June 2011Contact Stephen

Stephen Kraus is an expert in consumer insights and digital trends. He is author of three books and holds a Ph.D. from Harvard University.

Articles by Stephen All articles by Stephen

Comments by Stephen All comments by Stephen

  • Amazon's Biggest Strength: Utilitarian Products With Utilitarian Journeys by Stephen Kraus (Marketing Insider on 03/17/2020)

    Thanks for the interesting comments, Ron -- you make good points.  I suppose in the days of COVID that Amazon also provides a stronger sense of availability and reliability, when local in-person stores may be closed or out of inventory.

  • Details About Digital Devices: How Affluents Use Smartphone And Tablets by Stephen Kraus (Engage:Affluent on 10/16/2013)

    Hi Edmund, Thanks for your question. 18% of Affluent smartphone owners read a blog on their phone in the past 30 days. For tablet owners, the comparable figure is 19%. I hope that helps! Best, Steve

  • The Mood Lightens by Stephen Kraus (Engage:Affluent on 07/17/2013)

    Thanks for the great comments, all. I would agree that semantics can cause confusion on this issue. We use pretty straightforward operational definitions for Affluent ($100K+ HHI), Ultra Affluent ($250K+ HHI) and Wealthy ($500K+ HHI). [It’s worth pointing out the average income in each segment is about twice the threshold for entry – e.g., average income among Ultra Affluents is a little over $500K]. But some people use the term “affluent” to mean the “best target for high-end luxury” or “those who live a consistent luxury lifestyle”. Thinking about luxury circa 2006, in our terminology, Affluents (at the time, widely called Mass Affluents) were the “aspirational luxury shoppers” who drove the market. As the recession hit, luxury marketers have done well by focusing more upscale, on more traditional luxury targets such as Ultra Affluents and the Wealthy. For reference, the Wealthy, defined as $500K+ HHI, have an average income of nearly $1 million, and a net worth of nearly $4 million, which would start to put you in the market for truly elite offerings in many categories. So when people say something to the effect of “$100K+ HHI isn’t affluent,” I would tend to agree if their meaning is something along the lines of “$100K+ HHI is not the best target for high-end luxury.”

  • The Mood Lightens by Stephen Kraus (Engage:Affluent on 07/17/2013)

    Thank you, Judith and Paula, for your interest and your comments. One note about the definition of “Affluent”: we have historically defined “Affluent” as the top 20% of the US in terms of household income, which today translates as $100K+ in annual household income (at least on a national basis – $100K+ HHI puts you in the top 40% or so if you live in NYC or, like me, in San Francisco). We often segment the population in terms of Affluent ($100K+ HHI), Ultra Affluent ($250K+ HHI) and Wealthy ($500K+ HHI). You are certainly correct that “Affluents” (sometimes described as “mass Affluents”) are mostly occasional and aspirational in their luxury interest. For truly high-end offerings – such as something from Tiffany, or a private jet, or multi-million dollar vacation homes – Affluents are not the primary target for most brands. For offerings like that, a much more high-end target is needed.

  • How Affluent Americans Feel About Income Inequality And Wealth Concentration by Stephen Kraus (Engage:Affluent on 03/21/2012)

    Thanks everybody for their comments and questions. To clarify, we define "Affluent" as individuals living in households with at least $100K+ in annual household income. That's about 58.5 million people -- about 21% of the population that holds 70% of the net worth and earns 60% of the income. But as you rightly point out, that hardly puts one on "easy street" these days. And in places like New York (or where I live, San Francisco), it's 35-40% of the population. We do also examine those with $250K+ HHI -- about 2-3% of the population, and the start of the "core" market for luxury. They skew more conservative and less enthuasistic about taxes on higher-income Americans. Next month we plan to have a report with a deeper examination of the $250K+ HHI group.

  • Shullman Retiring As Ipsos Mendelsohn Prez, Succession Plan Unveiled by Joe Mandese (Raw on 01/20/2012)

    Bob Shullman is a class act. He is a scholar and a gentleman whose thoughtfulness and leadership have been appreciated by clients, co-workers and colleagues for more than 30 years. Best wishes to Bob and his family.

About Edit

You haven't told us anything about yourself! Surely you've got something to say. Tell us a little something.