*Press embargo until July 15, 2020
A recent study on ultra high net worth individuals conducted by Northrop & Johnson revealed interesting data on yachting, travel and luxury lifestyle interests of clients.
This study, which aims to understand clients in order to better serve their yachting and luxury travel needs, uncovered some poignant data.
Broker question: Which of the below lifestyle areas are of interest to your clients and their immediate families?
The UHNW consumers who charter and own yachts have a diverse range of interests, led by culinary. Eight in 10 (80%) are interested in Wine and Spirits with 78% interested in Fine Dining. Over three-quarters (76%) have a passion for Cars while 74% are interested in Second Home Residential Real Estate.
Yacht users like to be on time, or at least look down at their wrists, with 54% saying they enjoy Watches, while Art and attending Sporting Events found a 52% level of interest. General Philanthropy (50%), Wellness and Spas (43%), Jewelry (37%), Personal Foundations (37%), Fashion (35%), Architecture and Design (24%), Competitive Sports (20%) and Sports Team Ownership (15%) highlighted additional pursuits of Northrop & Johnson customers.
Client question: Which of the following subjects you are interested in would you like to receive information on from Northrop & Johnson?
As a result of the trusted relationship between customers, their brokers and the company, a large number of Northrop & Johnson’s UHNW clients want the company to provide information and introductions to luxury providers and brands, including event invitations, special yacht charter offers, email updates, and even webinars.
VIP access to Sporting Events (88%) followed by Fine Dining (79%), Fashion (77%), Fishing and Hunting (74%), Wellness and Spa (72%), Jewelry (72%), Cars (71%), Luxury Travel (71%), Private Aviation (70%), Wines and Spirits (68%), Art and Art Collection (67%), Competitive Sports from golf to triathlons (64%), Watches (63%), Insurance (60%), Luxury Real Estate (60%), Wealth Management (55%), Architecture and Design (51%), and Sports Team Ownership (50%) are among the areas where Northrop & Johnson customers say they are interested in more information about their passions.
How UHNWIs wanted information and introductions varied by category. For example, 51% of those interested in Luxury Travel, 50% of auto aficionados and 35% for Real Estate wanted special offers, while 62% of Fashion fans are looking for invites to intimate events. With this high level of trust comes great responsibility to protect the relationship.
Asked about the areas his clients are interested in, broker John Cichanowicz told us, “All of it, obviously!”