Affluents May Be The Best Gift of The Year

The following is from a recent article I wrote for MediaPost on the importance of affluent consumers (those making more than $100,000) during the holiday season. You can read the whole article here but here are some highlights:

Affluent Consumers – The Best Gift

Compared to less affluent consumers, affluent shoppers are much more likely to plan on purchasing big-ticket items:

  • Mobile devices   +260%
  • Satellite TV        +230%
  • DVD players       +112%
  • DVR                  +110%
  • Gaming systems +97%
  • HDTV                +56%
  • Digital cameras  +21%

It’s worth noting that their growth in intent to purchase the following items is at least 25% higher than it is for non-affluent consumers.

 

 

 

2010

2011

PDA

 

 

4.20%

13.10%

Pools or spas

 

 

2.10%

5.00%

DVD/Blu-Ray players

 

 

3.20%

17.60%

Video game systems

 

 

4.70%

19.40%

High Definition Televisions

 

 

10.50%

23.40%

Energy saving appliance

 

 

7.40%

12.60%

 

Affluent consumers are also much more likely to spend more than $500 per year than non-affluent shoppers in a wide range of key categories.

  • Sports Equipment – 240%
  • Infant Clothing – 172%
  • Athletic Clothing – 138%
  • Women’s Casual Clothing – 48%
  • Costume Jewelry – 43%

The growing spending power and plans for increased buying by affluent shoppers cannot be ignored or overstated as 2011 comes to a close. For retailers, high-end product manufacturers and marketers, reaching these people needs to be an integral part of their 2012 plans.

For marketers who understand and are able to reach the affluent audience successfully, they will be rewarded. And the loyalty and buying behaviors of wealthy shopper is a gift that benefits everyone.