Hooray! Henrys are still cruising
Henrys (high earners not rich yet) are the biggest drivers of consumer retail spending, and have increased their appetite for cruising.
Although the ultra-affluent and super-rich have been scaling back their cruising plans, the mass affluent have no plans to stay on dry land this summer. According to the American Affluence Research Center, the number of households with a net worth of $800,000 and more that are planning to take an ocean cruise has dropped since last autumn. And according to yacht specialists, more than double the number of mega-yachts bobbing in Mediterranean harbours are vacant this year than last year.
The Henrys, however, have increased their appetite for cruising. Henrys (high earners not rich yet) earn between $100,000 and $250,000 a year and are the biggest drivers of consumer retail spending. According to Pam Danziger, president of Unity Marketing and author of Putting the luxe back in luxury, the Henrys are increasingly cruising both the Caribbean and southern Europe.
"Since the recession, cruising has become the luxury travel experience of choice for this wealth segment," says Danziger. She attributes their enthusiasm to the cruise lines adapting to younger consumers, lowering their prices and becoming more customer-friendly in their offerings.