- Engel & Völkers releases data report on a new generation of wealth
- HENRY stands for "High Earning Not Rich Yet"
- Millennials trust real estate professionals with neighbourhood expertise the most
Hamburg, 28 November 2018. Luxury brands must start adapting to serve a new target group: the HENRY generation. The acronym stands for a niche demographic subset of Millennials known as “High Earning Not Rich Yet”. A new Engel & Völkers data report entitled “Meet HENRY: Influencing the Next Generation of Wealth” investigates how this new affluent cohort is creating its own definition of luxury and setting priorities when considering purchases. HENRYs are born after 1980 and have an annual income in excess of 100,000 US dollars. The report found that quality and brand reputation are crucial, and provides advice on building relations with wealthy HENRY consumers.