HENRY Devotes Income to Mortgage and Children

credit: Wikipedia

HENRY is a “higher earning, not rich yet” household with an income of $100,000 to $249,999. Many of today’s HENRYs are two-income households devoting a big chunk of their income to mortgages and children.

HENRYs affluence allows them to shop at Restoration Hardware and Williams Sonoma, cumulatively accounting for 80 percent of the luxury market. They are critically important to accessible luxury brands like Coach, Kate Spade and Restoration Hardware, as well as to higher-end mass brands such as Williams Sonoma, Ann Taylor and Banana Republic.

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