Team One Unveils 14-Year Study: The Evolving World of Affluence
Team One, a premier agency for affluent audiences that builds and transforms premium and luxury brands into modern powerhouses, has released ground breaking findings bringing together data from the past 14 years. This comprehensive, years-long exploration delves into the evolving behaviours and aspirations of the global affluent community, uncovering the driving forces behind their purchasing decisions and lifestyle choices.
"The economic and societal shifts that we’ve seen for more than a decade have fundamentally changed how consumers approach spending, including those in affluent segments," said Julie Michael, CEO of Team One. "Today's affluent consumers are more selective, prioritising personal fulfilment and lasting impact over traditional status symbols. This creates an opportunity for brands to reimagine their role in consumers' lives."
The Demand for Duality
Team One’s research reveals a fundamental change in how affluent individuals think about luxury. It’s no longer choosing between indulgence and impact - it’s about demanding both. Shifting from desire for rarity alone to commitment to impact too, personal pleasure to global responsibility, and exclusive access to inclusive values.
Within the study, Team One found that the same individuals who maintain relationships with luxury brands for early access (69%) also insist those brands demonstrate environmental leadership (77%). And while 73% value being the first to own a new release, an equal percentage insist that their luxury benefits local communities. Exclusivity is being redefined - not by who’s kept out, but by how their passions and priorities are embraced.
So what does this mean for brands?
The Five Core Affluent Values and Learnings for Aspirational Brands
Team One 's study identifies five enduring values, rules that underpin the affluent lifestyle:
1. Mobility: Freedom to move and belong, with 80% believing extended stays (longer trips) are essential to develop a true understanding
2. Success: Live life on their terms, with 65% prioritizing a rich life over being rich
3. Belonging: Connection through shared values, with 67% saying other cultures shaped who they are
4. Consumption: Conscious choice and impact, with 75% linking spending decisions to having a positive impact on society
5. Status: Influence through contribution, with 76% viewing affluence as a responsibility
And for brands seeking to connect and to authentically deliver on the five rules of engagement they must develop some new capabilities of their own that will enable them to meet the Collective’s elevated expectations.
"Brands must reconsider their approach to luxury in this new era where impact matters alongside indulgence," said Mark Miller, chief strategy officer at Team One. "Understanding and acting on this change isn't just about achieving momentary marketplace success - it's about helping to shape the ongoing future of luxury itself."
By understanding the evolving dynamics of the affluent market, brands can position themselves for ongoing success. The study provides invaluable insights to help brands navigate this complex landscape and build lasting relationships with affluent consumers, from aligning impact with indulgence to creating tailored experiences that cater to individual needs.
The agency will be releasing future Global Affluent Collective studies on an annual basis, with the next one arriving in the coming months.
Research Methodology
The Global Affluent Collective study has surveyed approximately 15,000 participants over fourteen years across North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. The analysis focuses on affluent respondents, defined as having an annual household income of $275,000 or more in 2024.
For the complete study, visit here.
