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  • What are (moderately) wealthy Gen Yers spending on?
  • What are (moderately) wealthy Gen Yers spending on?
    Pongsawat Pasom (2020) ©
REPORT

Who are the new HENRYs?

HENRYs – those affluent (but not too affluent) young professionals who are getting a taste for the finer things – are a focal group for high-end brands looking to ensure their longevity. But what do these Gen Yers want to spend on, and what would convince them to keep buying from luxury labels?

Location North America / Northern Europe

Scope
Standing for ‘high earner, not rich yet’, the term HENRY first appeared in a 2003 Fortune article to describe “America's most ambitious, productive people... executives, law firm partners, airline pilots, doctors.” [1] These professionals reportedly headed up eight million US households in 2008, earning between $250,000 and $500,000 a year. [2] Fast-forward to 2020 and HENRYs not only look quite a bit different, they have a whole different point of view on the world.

According to Priya Malani, the founder of Stash Wealth, the modern HENRY is, on average, 32 years old – putting ...

Canvas8

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