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The Marketing Corner: Trends on Affluent Consumers

By Adele Lassere Created: January 21, 2013 Last Updated: January 22, 2013
Related articles: Business » Economy & Trade
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Shoppers are seen at the Westfield Shopping Center in West London on Dec. 22, 2012 in London, England.(Photo by Dan Kitwood/Getty Images)

Shoppers are seen at the Westfield Shopping Center in West London on Dec. 22, 2012 in London, England.(Photo by Dan Kitwood/Getty Images)

It may appear that affluent consumers are elusive when it comes to delivering advertising.

In reality, this group is fairly easy to capture. They are more likely to research their purchases prior to going to a store or retail site. For small business owners, there has always been a concern—do search campaigns assist in delivering a return on investment? Now, this question can be answered and put to bed. Rest assured, when affluent shoppers start doing their homework, it does trigger purchases at the store-front level.

Other points to note about affluent consumers:

  • Their household incomes are in excess of $100,000 per year.
  • They tend to shop key categories such as: apparel, jewelry, and accessories. In addition, their disposable income predisposes them to shop on luxury websites and spend more than the average shopper.
  • They are tech savvy and constantly wired. Expect this group to constantly be plugged in via mobile devices; such as smartphones and tablets.
  • Just because they have the income doesn’t mean they will spend money unwisely. This group will demand quality (or value) for the money. Seek out relevant activities and/or causes as other means to continue or establish a dialogue with this group.

As with all audiences that are coveted and desired by marketers, small business owners should consider maximizing efforts by constantly asking current customers what their interest are and what keeps them coming back.

Ensure that your website has mobile applications and is constantly up-to-date. Remember that these consumers are always plugged-in and doing research. Ensure that your loyalty programs remain relevant.

Affluent consumers are great to have as customers. However, to keep them, you must innovate, offer luxury or one-of-a-kind items to keep them purchasing your offerings and not your competitors.

Adele Lassere is a marketing/advertising consultant with 20+ years experience, freelance writer and author of “Elements of Buying: A How To Reference Guide on Advertising for Business Owners” available at amazon.com. Adele was listed as Black Enterprise’s 2011 Top Execs in Marketing & Advertising. Contact: lassere@bellsouth.net

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