Since 2009, we have been able to survey the attitudes and usage behaviors of China's 353 newly minted billionaires towards designer handbags, watches and fine jewelry. And they are very generous about providing us with access to their views and attitudes towards luxury goods and beauty products.

We know where the affluent customers are. As an industry we have rapidly expanded our ability to get to them with relevant messaging. But the smart companies know that the current economy has created a situation in which customer segments and customer behaviors are fluid at best. The affluent segment is no different. Engaging the affluent customer is still a multi-channel mix of precision display targeting, email, and customer behavior knowledge that feeds the most relevant offer.

Last month, the Federal Reserve Board released results from the latest Survey of Consumer Finances (SCF), a triennial government survey that is one of the most definitive sources of information about the financial lives of American families. Conducted in 2010, (and just now released, after two years of government number-crunching), the SCF paints a vivid portrait of how money ebbed and flowed in American lives during the turbulent decade that ushered in the new millennium: 2000-2010.

Most luxury goods companies focus on getting their product right and assumed that the market would follow. Until recently, this philosophy of "if you build it, they will come" has worked. However, China, with its 1.3 billion people of which at least 300 million are luxury goods consumers and whose pipeline increases exponentially daily, has changed this mantra. Now, the Chinese demands are driving the market.

The profile of the affluent customer continues to evolve. Just last September an Ispos Mendelsohn report alerted the world to the complete disappearance of the affluent "middle class," meaning the 100-200k segment. Now a new report from Unity Marketing says they're back. Meet HENRY.

Each month, our survey takes the pulse of American Affluents, tracking their attitudes, aspirations and anxieties. Our latest results find some stability in economic perspectives: optimists about the economy continue to narrowly outnumber pessimists, and most feel the recession is still a reality for themselves, their families, and the U. S as a whole.

Advertisers are starting to question the use of social networking sites such as Facebook and Twitter, debating the overall effectiveness of social media marketing. The latest example is GM's decision to cancel its $10 million Facebook advertising budget due to unsatisfactory returns and an overall ineffectiveness of their ads on the social networking site.

Luxury brands seem immune to the caution that has characterized the retail sector in recent months - some finding it difficult to keep up with demand. For example, Louis Vuitton witnessed sales growth of 20% in 2011 and Gucci breached the EUR3 billion mark in sales for the first time last year.

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There's a new customer segment to target: Slackers. In early May, the results of the Second Annual American Express Platinum Luxury Survey were announced. The biggest surprise that emerged was that, for the first time ever, Generation X is spending substantially more on luxury purchases than their Baby Boomer counterparts. That's right: Members of the MTV-era "slacker" generation are outspending Boomers by roughly 18% in multiple luxury categories, in excess of $4,000 for households included in the survey. Now that Gen X is reaching the peak of their professional lives - they're between 35 and 46 today - many are …