Tag: affluent consumers

Here’s How Young Luxury Product Shoppers Make Buying Decisions

"Mil­len­ni­al and Gen Z con­sumers are embrac­ing lux­u­ry fash­ion. The aver­age lux­u­ry con­sumer in these gen­er­a­tions owns nine lux­u­ry fash­ion items across acces­sories, appar­el, and footwear, accord­ing to A Mil­len­ni­al Approach to Lux­u­ry, a recent report from The NPD Group and Styl­i­tics. But, they have a dif­fer­ent style when it comes to the pur­chase jour­ney. This younger lux­u­ry con­sumer favors the con­ve­nience and exten­sive brows­ing abil­i­ty afford­ed to them by online shop­ping, but also appre­ci­ates the lux­u­ry in-store expe­ri­ence."

Why Your Clients Should be Advertising at the Cinema

A night out at the cin­e­ma is a way for con­sumers to social­ize and expe­ri­ence some­thing new on the big screen. This activ­i­ty also pos­es a big oppor­tu­ni­ty for your clients to make an impres­sion on movie goers.

Introducing Affluencers and Why You Need to Advertise to Them

Afflu­encers spend 40% more than afflu­ents and, out of every con­sumer group, their future pur­chase intent is the great­est. Here's who they are and how to adver­tise to them.

Luxury Marketers Should Target Younger Consumers on Road to Affluence

Busi­ness lead­ers are fac­ing an increas­ing­ly chal­leng­ing envi­ron­ment. Yet through­out the past sev­er­al years, the lux­u­ry mar­ket has offered busi­ness­es and investors safe haven with the afflu­ent con­sumer seg­ment remain­ing resilient and aggres­sive shop­pers. How­ev­er, even the lux­u­ry mar­ket may be fac­ing a cri­sis point, as "soar­ing luxury-goods prices test wealthy's will to pay."

Millionaires Differ Generationally More than by Gender

There are approx­i­mate­ly 20 mil­lion mil­lion­aires, split near­ly in half between males and females. New research from the Shull­man Research Cen­ter indi­cates how mil­lion­aire Mil­len­ni­als dif­fer from Gen Xers and Boomers, as well as if these three gen­er­a­tions plan to buy the same prod­ucts and ser­vices in the near future. Gen­er­a­tional issues play a key role in under­stand­ing how to mar­ket to this seg­ment.

Affluent Consumers Often Outspend Holiday Gifting Estimates

Afflu­ent house­holds are expect­ing to spend approx­i­mate­ly $2,175 on hol­i­day gifts in 2013, down slight­ly from 2012. How­ev­er, afflu­ent house­holds spent in 2012 almost 7% more than they had antic­i­pat­ed in the 2012 sur­vey, sup­port­ing the premise that peo­ple often tend to spend more for gifts than they had planned.

Affluent Population Grows, As Does Their Media Engagement

As the afflu­ent pop­u­la­tion in the U.S. grows, Afflu­ents con­tin­ue to be enthu­si­as­tic con­sumers of tra­di­tion­al media, even while their use of dig­i­tal media con­tin­ues to rise sharply. Accord­ing to Dr. Stephen Kraus, Ipsos, “Afflu­ents’ grow­ing dig­i­tal media use tends to sup­ple­ment – rather than replace – their tra­di­tion­al media use, and the result is real growth in their engage­ment with media as a whole.”

Affluent Consumers Continue to Outpace Other Shoppers

Shop­ping activ­i­ty across the wealth­i­est con­sumer seg­ments remains com­pa­ra­bly strong. Afflu­ent con­sumers are both still shop­ping and fur­ther out­pac­ing the shop­ping activ­i­ty of non-affluent shop­pers, accord­ing to a recent study from Mar­ti­ni Media. Afflu­ent con­sumers (earn­ing more than $100k) were 47% more like­ly than those earn­ing under $100k to make an online pur­chase in Q1 2013, and on aver­age, they spent 41% more on pur­chas­es.

Affluent Consumers Still Like Their Hard Copy Print Pubs Despite Growth of Digital

The 2012 Mendel­sohn Afflu­ent Sur­vey shows that Afflu­ents (HHI $100k+) con­tin­ue to reaf­firm the pow­er of the hard copy print pub­li­ca­tions in their lives, even as tablet and smart­phone pen­e­tra­tion grows dis­pro­por­tion­ate­ly in this demo­graph­ic. Afflu­ent Women and Ultra Afflu­ents (HHI $250k+) are par­tic­u­lar­ly heavy print con­sumers. As a whole, the sur­vey sug­gests con­sid­er­able oppor­tu­ni­ties for mar­keters, adver­tis­ers and media brands focused on the Afflu­ent mar­ket.

Affluent Consumers Count for a Growing Share of American Consumer Market

The rel­a­tive eco­nom­ic sit­u­a­tion of the nation's near­ly 10 mil­lion "high­ly" or "super" afflu­ent con­sumers rebound­ed sig­nif­i­cant­ly in 2011 from its low point in the first half of 2009, accord­ing to new report from Pack­aged Facts. Afflu­ent house­holds over­all more make up 20% of Amer­i­can house­holds but con­trol 51% of the nation's house­hold income. House­holds head­ed by Baby Boomers are by far the most sig­nif­i­cant gen­er­a­tional seg­ment of the afflu­ent mar­ket.

Marketers to Reach Upscale Consumers via Digital Media

Mar­keters have long known about the chal­lenges of reach­ing afflu­ent con­sumers with tra­di­tion­al media. Con­sumers with house­hold incomes exceed­ing $100,000 have nev­er been eas­i­ly tar­get­ed via TV or radio. But, late­ly, this demo­graph­ic group is show­ing a pref­er­ence for dig­i­tal media and online adver­tis­ing.

Ultra-Affluent Consumers Seeking Good Deals Online

Ultra-affluents, the wealth­i­est 2% of the U.S. pop­u­la­tion with incomes of $250,000 and above, have embraced online shop­ping, accord­ing to new research from Uni­ty Mar­ket­ing. What stands out from the data, how­ev­er, is the inter­est ultra-affluents have in online shops that are geared toward sav­ings. "While ultra-affluent con­sumers may make pur­chas­es of top-end lux­u­ry items online, the data show that these con­sumers are also inter­est­ed in find­ing great deals," says Pam Danziger, pres­i­dent of Uni­ty Mar­ket­ing.

1 2