The affluent are a powerful buying group. These adults live in households with incomes of $125,000 and above, make up 16% of households in the U.S. and spend 2.6 times more than non-affluent consumers. To top it all off, Ipsos’ Fall 2017 Affluent Survey has released a new reason to advertise to the affluent: 71% of affluents are affluencers.
Ipsos has defined the term affluencers as, “affluent consumers who also influence others’ shopping and buying behaviors.” So, by advertising to this group, not only is a consumer group with more spending power being reached, the ads are also appealing to a group 97% made up of people who claim that their purchasing and shopping advice is often sought after.
This is good for businesses because affluencers spend 40% more than affluents and, out of every consumer group, their future purchase intent is the greatest. They’re also highly likely to be among the first to try out new products, technology and innovations, regardless of whether or not these purchases will cost more and/or be accompanied by some form of risk. Additionally, 39% prefer products and services that are exclusive and another 38% are more likely to buy brands that are designer and/or luxury. Then when they’ve made their purchases, they’ll use their influence to encourage those they know to do the same.
Let’s get to know this group a little better. Ipsos reports that 81% of affluent millennials are affluencers, as well as 70% of affluent Gen Xers, 64% of affluent baby boomers and 57% of affluent seniors. Overall, 74% of affluents are white, 10% are Hispanic, 9% are Asian/Pacific Islanders and 6% are African American.
Where are these affluencers shopping? Approximately 61% of surveyed affluencers prefer to shop online. However, when they do make their way to physical stores, 41% prefer to shop where they are provided lots of personalized attention.
So, how can affluencers be reached? According to Ipsos research, affluencers access content through:
- Traditional TV: 97%
- Web Browsers: 97%
- Mobile Apps: 88%
- Print: 84%
- Over-the-Air Radio: 77%
- Social Media: 72%
Does your client have luxury and/or new products and services they’d like to advertise? Introduce them to the affluencer market and let them know that this group can be targeted through multiple media, both traditional and digital. Need help deciding which products and services to promote? AdMall’s AudienceSCAN profiles on Affluent consumers contain great details about purchase intent.