23.01.2012
Millionaires spend most on clothing, jewellery and art as well as travelling frequently
Despite the crisis, close to 40% of card spending of clients with assets above PLN 1 M is for clothes, jewellery, antiques, works of art and travel - according to an analysis done by Bank Millennium.
The structure of card transactions done by clients of Private Banking differs considerably from the average in retail banking. For example millionaires pay with the cards abroad 7 times more often than mass market clients, also more frequently purchasing luxury goods.
The main items in the card spending budget of millionaires are clothes, jewellery, works of art and travel. Among retail clients over 45% of card spend is connected with daily needs - supermarket shopping and car maintenance expenses, including cost of fuel. Although the household budget percentage share of spending for clothes is similar in both groups, among affluent clients the average value of transactions is more than four times higher.