• Hey, Luxury Marketers, The Multicultural Millennials Are Waiting to Hear From You
    Luxury brand marketers must rethink their relationship with multicultural Millennials. The group represents 80% of the total growth of Millennials more broadly - the largest consumer demographic in the U.S. - who luxury marketers are already pursuing frantically. According to a report by Nielsen, the buying power of U.S. multicultural shoppers increased by 415% from 1990 to 2014. That's more than double the increase in total spending power for the country over the same period.
  • The Anxiety Of Millennial Affluents
    Sure, we all know the Millennials. You know, the biggest generation ever. The ones so full of optimism and creativity. The ones obsessed with technology. The ones living with their parents. But not much attention is paid to the affluent ones, the ones with HHI at over $180k. Can we measure them with the same yardstick that we measure the rest of the 76.4 million of their generational cohorts? The answer is yes and no.
  • 3 Steps For Unlocking Hidden Value In Your CRM Data
    Today's advertising climate is very focused on "big data," but sophisticated advertisers have been making use of consumer data for decades. Many are sitting on top of reams of demographic and life-stage data within their CRM systems - valuable information that can teach them about existing and prospective customers.
  • Amazon And The Affluent Marketplace
    July and August have been very high-profile months for Amazon. First of all, it celebrated the 20th anniversary of its start as an online bookseller in July 1995. It's amazing what 20 years can do for a business.
  • The Conundrum With Clout
    As the boomers age, they are focusing less on acquiring "stuff" and more on great experiences, creating special memories with family and friends. The most affluent boomers own multiple homes, more clothing and jewelry than they can wear, more luxury products than they have room for and have less energy and time to care for and manage all of these material things. Boomers, though retiring later, are spending more and more of their time savoring and enjoying their "golden years."
  • How To Engage Millennials On Mobile Devices
    Engaging Millennials on mobile devices has never been harder, or more crucial for a brand's success. There are now over 83 million Millennials in the United States, representing $1.3 trillion in consumer spending. Of that 83 million, 88% of Millennials use a smartphone, and 52% of them will use their mobile device for commerce, according to CreditCards.com.
  • How To Market To The Affluent While Respecting Their Privacy
    Advertisers looking to reach affluent consumers typically have several options, but they've always struggled with the limitations of those options. They could buy print advertising in publications claiming to have affluent readership, such as Vogue, The New York Times, or Cond Nast Traveler. They could make TV buys during large events, such as the Super Bowl, hoping that the scale of those events brought a good percentage of affluent viewers. Direct mail presented a slightly more precise tactic, letting marketers send offers to homes in affluent ZIP codes, or to the subscribers of the previously-named publications.
  • Luxury Purchasers: Who Are They And What Are Their Interests? Part 3
    Our June and July columns, "Luxury Purchasers: Who Are They and What Are Their Interests?" parts 1 and 2, focused on our finding that luxury purchasing goes much deeper than the affluent market segments with household incomes of $75,000 or more (the top 41% of adults) and the very affluent with household incomes of $250,000 or more (the top 3% of adults).
  • Creating A Luxurious Social Media Experience
    According to a 2014 survey, 70% of people who come from affluent households (total annual income >$200,000) own a smartphone. ExactTarget research indicates that 75% of smartphone users engage with social media on a daily basis.
  • The Dirty Dozen (Part 2): Top Challenges Facing Luxury Brands Today
    Last month's column highlighted six of 'the dirty dozen' challenges/opportunities facing marketers of luxury products and services. Based on extensive conversations with top management and marketers of luxury brands, here's our last six.
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