Traditionally, marketers have targeted affluent consumers, because they control so much of the spending power. Not surprisingly, you will find them online. A recent released study shows they spend an average of 20 percent more time online weekly, compared to the general population. They watch about half as much television and listen to the radio less than half as much as well.
The US study by the Interactive Advertising Bureau (IAB) reveals these higher-income consumers embrace digital media – and the advertising you will find there. The study, called Affluent Consumers in a Digital World, details the usage and attitudes of these wealthy consumers – homeowners who have at least US$100,000 in household income. They constitute 21 percent of United States households and represent 70 percent of consumer wealth.
Just under 60 percent of affluent consumers reported taking action based on a digital ad during the preceding six months. “While that number doesn’t differ significantly from other internet users, it is of great significance to advertisers seeking to reach this elusive, yet important, market segment,” said Sherrill Mane, senior vice president of industry services for IAB.
“Affluent consumers have increasingly come to desire relevant and customized experiences, in part because they are living technology-infused lifestyles,” said Bob Shullman, president of media and marketing consultancy Ipsos Mendelsohn. “Virtually all the affluent are online. Their ownership of tablets and e-readers has increased by 50 percent over the past six months, and shows every indication of continued growth. They have come to expect the benefits of digital media, even if it doesn’t alleviate all work-life pressures.”
Seventy-nine percent of the affluent say their lives have become “intertwined with technology” over the past decade. However, they are also more likely to say that their lives have become “more complicated” (59%) and “more stressful” (58%), as opposed to “more fun” (47%) or “easier” (33%).
• For a full summary of the study, go to www.iab.net/AffluentConsumers.
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