MediaPost | Engage:Affluent
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Last feed update: May 19 2012 18:43:55.
Auction Education: Items That Entice The Affluent To Donate
The charity auction season is in full swing. Over the next few months, there will thousands of galas and fundraising parties all over the country. With those events comes a demand on affluent Americans to make financial contributions to a growing number of worthy causes. If you are planning a charity event, the best way to raise the most money possible is to be sure you have items on the auction block that are proven to be winners with your affluent audience.
A Brief Profile Of Asian Affluents
Many ethnic groups, such as African-Americans and Hispanics, tend to be under-represented among the Affluent (who I'll define as adults living in households with at least $100,000 in annual household income). For example, the Census Bureau's 2011 Current Population Survey shows that Hispanics are 14% of the general population, but just 9% of the Affluent population. Similarly, those describing themselves as Black or African-American are 12% of the general population, but just 7% of the Affluent population.
The Five Things You Need To Know To Protect Your Trademark In China
According to "Women's Wear Daily," Herms lost its appeal to the China Trademark Appeal Board in February. According to state media, Herms failed in its attempt to register the Chinese version of its name, Ai Ma Shi in pinyin, because a Chinese company, the Dafeng Garment Co. of Guangdong, had already done so. Apparently, Chinese speakers refer to Herms by that name and Herms argued that therefore they should be allowed to register it, but the trademark board disagreed. These two cases are bringing to light the growing intricacies of branding in the Chinese market.
Attracting Affluent Travelers: How The Top Destinations Do It
Recently, Luxury Travel Magazine published a list of the top destinations for 2012. You'd expect Paris, Monte Carlo, and Dubai to top the list, but you'd be wrong. Instead, exotic destinations like Tasmania, Jordan and the Congo dominated. With so much competition from the likes of Vegas and other more obvious destinations, how did these spots become top-of-mind for affluent travelers?
Optimism Hits A One-Year High
Half of Affluents are now optimistic about the U.S. economy, solidifying the significant increase observed in February 2012, and marking the highest level in a year, according to our March survey. The study was conducted online March 20-28, 2012 with 1,000 Affluent individuals, defined as adults living in households with at least $100,000 in annual household income.
Business Travel Frequency Increases 27% Vs. 2010
As the travel industry prepares for an uncertain summer season (amid airfare price hikes, decreasing demand and the growth of "staycations"), many advertisers are setting their sights on reaping the rewards of a re-energized business travel segment. Thanks to job growth, improved productivity and recent economic gains, the frequency of travel among affluent ($100K+) business travelers is starting to heat up. As a result, it's paying dividends for some leading brands.
8 Things To Know To Engage Affluent Chinese Tourists
The U.S. (and France) is a shopper's paradise for the Chinese. The Chinese prefer to buy their merchandise "at the source" because they believe by doing so they 1) can save a lot of money and 2) have greater selection.
The Digital Divide, Affluent Style
When it comes to travel brands that cater to affluent customers, there's a case of the have and have-nots. According to a survey released last week by affluent customer think tank L2, despite evidence of formidable ROI, hospitality's digital advertising spend equates to only a third of funds allocated to non-digital channels. Companies such as The Four Seasons were at the top of the digital capabilities list. But companies such as Inter Continental were still not up to speed, according to the study.
How Affluent Americans Feel About Income Inequality And Wealth Concentration
Income inequality and wealth concentration have grown consistently since the 1980s, but today play a growing role in American discourse. Occupy Wall Street. Mitt Romney. A millionaire tax. The Buffet rule. Returning growth in some luxury markets. Goldman Sachs resignation letters. The list goes on.
Staying Luxurious In Non-Luxurious Times: The Digital Formula for Luxury
In this new economy of abundant choice and access, is it enough for a luxury brand to remain true to its brand equity, or does it also need to reach a broader array of people across new media?
I (Heart) Designer Handbags
Since 2009, we have had the privilege of being able to survey the attitudes and usage behaviors of China's newly minted billionaires towards designer handbags, watches and fine jewelry.
Even Affluent Customers Can't Buy Time
If you need a few laughs today, Google "rich people problems." Some of them are funny. Some of them, like Tiger Woods' ex, Elin Nordgren, tearing down a $12 million mansion are perplexing.
Affluents, Coupons, And The Implications Of A Female-driven Marketplace
People are often surprised to learn how frequently Affluent consumers use coupons and other forms of discounts. Our latest barometer, conducted in late January 2012, again revealed relatively strong interest in coupons of all types, along with widespread and frequent use.
There's Groupon, And Then There's Good Will
Why partnering with a charity is a better deal for brands
Engaging Affluent Chinese Through Beauty Products
For affluent Chinese customers, Beauty is the portal into luxury goods. This is due to the fact that they are less expensive and more widely available. Consequently, they are purchased by young Chinese female students, who often hold competitions with their friends to see who can collect the most coveted brands.
Whither Mobile?
It's hard to imagine that any brand could be holding back on its mobile marketing initiatives. The growth pattern is too fast; the consumer behavior migration too sudden. Some evidence is showing up, though, that high-end brands might be underestimating the affluent customer segment when it comes to mobile. This could be a big mistake.
2011 Ended On A Positive Note For Affluents
Affluent optimism in the U.S. economy ended 2011 by rising for three consecutive months, from 30% in September 2011, to 40% in December 2011. In raw numbers, this rise of 10 percentage points during Q4 reflects roughly 5.9 million more Affluent adults who are optimistic about the economy, their spirits buoyed mostly by perceived improvements in the job market and consumer spending.
How Brands Can Grow Their Affluent Customer Base By Partnering With Innovative Non-Profits
Affluent consumers are typically highly educated, involved in their community, and are avid shoppers. But, increasingly, they are also motivated to shop responsibly. We call these individuals Charitable Commerce Consumers.
The 10 Things You Need To Know To Engage The Affluent Chinese Customer
Mainland China is a thriving marketplace. Growth will continue to be robust as more surviving Chinese migrate into consuming Chinese. And if you know how to speak to them, you can make a lot of money. But doing business in China is hard as the mainland Chinese consumer is challenging and unique. This month's column focuses on the 10 things you need to know to successfully and profitably engage the Chinese consumer.
Big Cars And Fancy Suits: The Next Cycle
At this point of the year, we like to prognosticate. It never makes much sense to look at how marketing will change in 2012. It's here. But it does make sense to look at how marketing to affluent customers will change during the next business cycle. It makes sense to try to predict changing market conditions. With that in mind, understand that the changes in affluent customer behavior and attitudes have already happened. They have been affected by the recession and slow recovery. The next business cycle continues to be marked by slow income growth and a potentially game-changing commitment to digital marketing. Which will mean three things to marketers.
Luxe In Flux
Tracking the evolution of luxury into 2012 and beyond.
Affluents Shift Gears In Auto Brand Consideration
The automakers released their 2012 lines a few months age, and we were curious to see how they have been received by affluent consumers. While we didn't look at specific models, our most recent study provides a good view into how well-heeled buyers feel about the leading brands. What it shows is that the average consideration of the 22 major brands studied dropped from 15% in 2010 to just 11% in the fourth quarter of 2011. This loss reflects a decline that has lasted most of 2011. For some brands the impact has been dramatic. However, as you'll see, there are also some brands that are performing very well.
Engaging China By Going Public
China is forecast to be the world's top buyer of products such as cosmetics, handbags, watches, shoes and clothes by 2015, according to consultancy PricewaterhouseCoopers. To capitalize on this opportunity, many luxury goods companies have filed their IPOs or joined the Hong Kong stock exchange.
Affluent Marketing In The Post-Occupied Zone
There has arguably been no stronger stigma attached to affluence than in the current political and economic climate. Tax rates are said to be unbalanced, income is allegedly too concentrated and the Occupy Wall Street movement is just starting to vacate. It is reasonable to question the concept of affluent marketing. But if you're going to question the concept, make sure you answer with an unqualified "yes."
Affluents Are Heavy Social Networkers, Both Online And Offline
We are often asked what role social networking plays in the lives of Affluent Americans-are they on Facebook? Twitter? If so, how much time do Affluents spend on these sites? Generally speaking, those who ask are skeptical-surely the Affluent, they figure, are too busy or too old-school to spend much time with online social networks. Our data suggest that Affluents have been socially networking with gusto for several years, and that this is one of many areas where popular notions of Affluent lives are shaped by stereotypes and misconceptions.
5 Ways To Maintain Prestige (And Sales) In A Down Market Without Depreciating Brand Value
Now that we're all experts at-or, at least, veterans of-navigating a real-life troubled economy, we can conclude with fairly decent certainty that 1) things will eventually get better, and 2) the ultra affluent will likely remain so. For those who work in the luxury space, these two factors shouldn't only confirm what they've learned along the way, they should also act as rules of the road going forward-guiding their approach to brand marketing and management in light of an unpredictable economy.
Here Comes The [Chinese] Bride, Capitalizing On The Chinese Wedding Market
The U.S. bridal industry is flat. According to U.S. census data, the number of weddings has remained relatively unchanged for the past 25 years at between 2.1-2.4 million. However, in China, the bridal industry is booming. According to David Liu, CEO and cofounder of The Knot in New York, in 2010, over 10 million weddings took place-- five times as many as in the U.S.
Stealing Affluent Branding, Fair And Square
There was a great cartoon in The New Yorker magazine back in 1999 when Ford bought Volvo cars. It was the first of the ill-fated American car moves to co-opt luxury brands. The cartoon showed a well-heeled couple at the breakfast table. The man was reading a newspaper with the "Ford Buys Volvo" headline. Caption: "Do you think Velveeta will now buy Brie?"
Hispanics: An Obvious But Too-often-overlooked Market Segment
While marketers and advertisers have long paid attention to the growing market of American Hispanics in general, only recently has there been widespread interest in Hispanic Affluents. In fact, just last month we were invited to speak at a symposium on affluence and luxury, the theme of which was "Hispanic Affluents as an obvious but too-often-overlooked" market segment.
China's Art Market Boom -- The Next NEW NEW Thing
The value of China's art market, which includes mainland China, Hong Kong, Macau and Taiwan, has more than doubled since 2009, making China the world's second-largest art market, behind the United States.
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