It turns out that wealthy consumers are just as likely as the rest of us to be tempted by a good bargain while they’re shopping. Emarketer recently summarized the Luxury Institute’s findings regarding high-income consumers and their purchasing behaviors. Lately, mobile devices are more important in the purchase funnel for these consumers, especially if they encounter a discount in this channel.
Over 80% of affluent consumers, those with annual incomes exceeding $150,000, own a smartphone and 56% use tablets. Top shopping activities via the smartphone for this group are store information searches (49%), seeking product information as they’re going about their errands (33%), and comparing prices in the store (29%). For tablet users, the top behaviors are slightly different. About 42% are viewing product images and the same percentage are reading reviews and recommendations. However, tablets remain a popular device for store search information with 41% of tablet users engaging in that activity.
However, not very many of these consumers are purchasing via mobile devices:
- Websites via mobile device 14%
- Mobile app 12%
- Tablet app 11%
Wealthy consumers under age 50 are more likely than their older counterparts to make purchases via mobile devices. Men also appear to be more comfortable making purchases via a mobile app or using a website on their mobile phone. However, the genders are tied at 11% with respect to purchasing via tablet apps.
The research did uncover one way that marketers can prompt more mobile purchases. At least 43% of affluent consumers say a discount would sway them to purchase via a tablet. 45% of these consumers would make a purchase through their smartphones if they were promised a special deal. Marketers who want to spur sales through the mobile channels might want to consider offering coupons or limited time offers.
To learn more about Affluents, check out the Audience Interests & Intent Report available at the Research Store on ad-ology.com.