According to the survey, more than half of affluent consumers (59 percent) receive the greatest personal satisfaction from experiences, such as fine dining, travel, entertainment, cultural/arts events and sporting events. On average affluent consumers spent $10,060 on these luxuries over the past 12 months. Only 21 percent of those surveyed say they get the greatest satisfaction from personal luxuries, such as automobiles, fashion and jewelry and on average they spent $14,270 on personal luxuries over the past 12 months. Only 20 percent enjoy home luxuries most, such as furniture, kitchenware, and linens and bedding and on average respondents spent $12,300 on home luxuries over the past 12 months.

"In the real world, affluent consumers aren't relaxing poolside or eating bonbons," said Peggy Maher, senior vice president and general manager, Consumer Charge Card, American Express "They're working long hours, juggling personal and professional lives, and are constantly pressed for time. For instance, our affluent cardmembers are looking to ease their busy, often hectic, lives with experiences that will make them feel special, whether it be a massage, a night out with fine dining and entertainment, or taking a luxurious vacation abroad."

"Twenty years ago the affluent lifestyle was focused on having and obtaining more material things, but the ‘new' luxury paradigm finds affluent consumers pursuing new life experiences," said Pam Danziger, author of the book "Why People Buy Things They Don't Need" and president of Unity Marketing, which conducted the American Express Platinum Luxury Survey. "Today, affluent consumers are far more interested in living well and smartly rather than ‘keeping up with the Joneses'."

Fine Dining and Luxury Travel Top List of Experiences

Those survey respondents who said they value experiences most spent an average of $26,401 on experiential luxury services in the past 12 months, more than double that of all survey respondents. The most popular experiences are fine dining and luxury travel.

The majority of these affluent consumers (79 percent) said fine dining was the number one experience they enjoyed over the last 12 months. Over three-fourths (76 percent) enjoyed fine dining once a month or more at a luxury restaurant and spent on average $5,990 on dining in the past year. However, food isn't everything when making fine dining decisions: 37 percent rate the reputation of the chef or restaurant as the top reason to choose a restaurant, 33 percent select a restaurant based on service or getting a good table, and 31 percent said outstanding restaurant reviews were the most influential factor.

These affluent consumers also travel often and in style: more than two-thirds (68 percent) took an average of six personal trips in the past year and spent $12,650 on average on personal travel. And don't expect these consumers to be logging into the office email and working on their vacations. Relaxation is a top priority, with 47 percent citing relaxation and freedom from stress as the top reasons for travel. Nearly all (90 percent) agreed that traveling was a desirable way to "break out of the day-to-day routine."

When the affluent travel, the majority (56 percent) said creating memorable experiences was the most important vacation criteria. Almost half (45 percent) received help over the past year creating those memorable moments with the use of a travel agent, personal concierge or other personal assistant. This allowed them to take advantage of special VIP programs, gain insider access to special accommodations or obtain amenities available only on an exclusive basis. Of those who took advantage of such VIP services, 70 percent said these special programs greatly enhanced or somewhat enhanced their travel experiences.

One fact to count on – these affluent consumers plan to enjoy more experiences in the future. Eighty-seven percent said they expect to spend the same or more on fine dining in the next year and 81 percent said they expect to spend the same or more on personal travel.

About American Express

This year marks the 20^th anniversary of the Platinum Card from American Express, the first of its kind in the market, offering Cardmembers access to exceptional travel benefits and services. When American Express launched the Platinum Card in 1984, the company's reputation for providing outstanding service to frequent travelers and cardmembers was already well established. Since the 1950s, American Express has been offering cardmembers high-quality products and services, including the Green and Gold Charge Cards and travel assistance and office facilities to travelers. Today the Platinum Card continues to evolve with the changing luxury marketplace, making it one of the most desired cards in the market.

American Express is a diversified worldwide travel, financial and network services company founded in 1850. It is world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.

The American Express Platinum Luxury Survey includes a quantitative survey among a random cross section of 870 affluent consumers in the U.S. with household incomes of $100,000 and above and who purchased or enjoyed either a home, personal or experience-based luxury – e.g., fine dining, luxury travel or entertainment – in the past 12 months. The average household income of consumers surveyed was $175,000. In addition, 491 of those respondents, who said they achieved the greatest satisfaction and happiness through experience-based luxuries, participated in an in-depth survey that explored experience-based luxury buying habits and attitudes. To view key results of the survey, click here.