STUDY: Fine Taste and Loyalty Prevail
With the election of a new president comes the hope that a new administration will be a catalyst for improvement from the broadest spectrums of our world policy to our closer-to-home, day-to-day experiences. Those of us who have lived through many elections know the most significant changes occur not as the result of some outside governmental agency, but as a result of our individual perspective, competence, tenacity, and effort. We realize the improvements we desire will be, for the most part, our collective responsibility.
Last August, we hired a firm to produce an independent demographic study of you, our reader. It was conducted by New York-based widely reputable demographers Ipsos Mendelsohn. Some of you may have received the firm’s questionnaire, and we are grateful to those of you who participated. Sixty percent of those asked to participate did — a very high rate, double the national average for such studies, indicating your engagement with Palm Springs Life.
The late Malcolm Forbes had a trademark saying: “In all thy getting, get understanding.” Through our study, we have a better understanding of who you are: leaders and trendsetters enormously influential in your families, businesses, and communities. You have earned a significant level of wealth. Your average annual household income is $384,000, and your average net worth is $2,742,000. At the time of this publication, 19,647 of you invite this magazine into your home or business. The average reader has been one for five years, and 90 percent of you rate your experience with the magazine as excellent to good. We appreciate your loyalty.
Because we rely on you choosing to read the magazine rather than us direct-mailing it to you or getting it through other unsolicited means, we have a closer relationship with you than other publications. On average, you spend more than one hour reading each issue, and nearly 70 percent of you have saved one or more issues. You pass the magazine along to an average of three people inside and outside your family. As a result, 71 percent, or 13,753, of you dine in a restaurant an average four nights per week. Fifty-two percent (10,216) attend art auctions or galleries, sixty-two percent (12,181) see theater performances, 56 percent (11,002) visit a museum, 40 percent (7,859) go to sporting events, and 44 percent (8,645) invest in stock or mutual funds.
Some 5,501 of you plan to redecorate a house next year; 6,091 are planning a complete home remodel; 8,645 own more than one house. On average, you will spend $11,200 on travel next year, and 19,254 of you plan to travel (86 percent have a valid passport).
More than 16,700 contribute to charity; and on average you spend $600 annually on books; $2,400 on electronic equipment, $1,200 on sports equipment, $800 on luggage, $1,800 on home entertaining, and $4,200 dining out. Collectively, you’ll spend $58,941,000 on artwork; $53,046,900 on women’s apparel and accessories; $45,188,100 on jewelry; $41,258,700 on men’s apparel and accessories; and $13,529,900 on fragrances and cosmetics annually. Every week, you will consume seven glasses of wine, and you’ll spend $15,717,600 on distilled spirits. On the road, 589 of you drive a Rolls-Royce and 569 drive a Porsche. And 1,198 own a Jaguar; 3,281 a Lexus; and 4,303 a Mercedes-Benz.
You are more active and engaged in living and contributing than any previous generation. Our country, community, homes, families, and businesses reflect your efforts, resources, and enthusiasm. You are the idea generators and executors responsible for turning the U.S. crank. So, in large part, our future success is in your hands. We, of course, don’t need to tell you this; you already know what it takes and how to get it done.
From our point of view, you are a dream reader. We salute you, our Palm Springs Life reader. Thank you for trusting us to help you optimize your desert lifestyle.