Results for March 2014
  • Marketers Must Note Differences Between Old Wealth And New
    Not all affluent consumers are created equally. I'm not talking about dollar value here - I am talking about interests and age. It's estimated that there are currently over 12 million Millennials with an annual income of over $100,000. Even with the "shortened" attention spans of Millennials, one would assume that marketing to this demographic is simple - just slap a notable label and an expensive price tag on a piece of merchandise and the wealthy will come running, right? Well, not necessarily.
  • A Global Perspective: Moods & Mindsets Of Affluents Around The World
    In his excellent book Richistan, Robert Frank detailed how millionaires in the mid-2000s had implicitly become a country (or at least a relatively homogeneous market segment), united by shared experiences and characteristics, and increasingly distinct from middle-class consumers. In my own book, I similarly referred to wealthy consumers as "globizens," or global citizens, whose international mindsets and international connections fostered an elite community that transcended borders.
  • Time, Not Click, Is Where Luxury Brands Need To Turn
    Considering how advanced the technology is today in so many aspects of digital advertising, the industry has been slow in adopting suitable measurements of effectiveness. Between the scale allowed by digital, and the vast new access to premium placements technology allows brands to have, digital now rivals broadcast as a forum for smart branding. Indeed, digital platforms allow for both granule audience targeting and advanced measurement of a campaign's effectiveness. Broadcast only wishes it could bring that to the table.
  • Millionaires Have Their Own Generation Gap
    In last month's column, "Almost The Only Thing Millionaire Men And Women Have In Common... Is Lots of Money!," I focused on affluent consumers in a different way - not by household income, but by male and female millionaires (our survey estimates the number of millionaires to be approximately 20 million, about half of whom are men and half are women). This gender-oriented column led a fair number of readers to ask how millionaires differ when they are segmented by generation (age) instead of by gender. Do millionaire Millennials have the same points of view regarding the future as Gen ...