Trends in the affluent/HNW space impact purchasing behavior and financial services customer mindsets. While a handful of premium credit card and retail bank marketers already do a good job of aligning marketing with these insights, there are opportunities to better sync with segment trends. Here’s a short-list of trends we’re watching for our clients.
Ipsos recently released 2013 affluent survey results that included insights into affluent spending habits. The survey focused on affluent adults: those over age 18 living in households with at least $100K in annual income. The survey looked at overall purchasing behavior, as well as habits related to online purchases and electronic devices. The trends have implications for both merchants and payment providers, including the need to enhance online shopping experiences and hold onto existing customers despite increased competition.
When it comes to marketing to the affluent, channel mix and integration are critical. Here's a summary of key statistics that marketers who target the affluent segment should bear in mind.
The affluent are extremely marketing savvy, so for financial services companies to be successful within this segment, products and services need to be aligned with the audience’s expectations.
Through work in the financial services and retail sectors, Media Logic has developed a defined and meaningful subset of expertise: marketing to affluent and high net worth consumers. While we can’t divulge everything from our vault, we can share several insights about affluent and high net worth consumers to guide you when developing programs to reach this audience.