The nation's most affluent consumers are shopping online more often than other consumers, but that doesn't mean they're heading to sites that appeal to only the wealthy.
According to Unity Marketing's most recent survey of ultra-affluent consumers (those making more than $250,000 in annual income -- the wealthiest 2% of Americans), Amazon.com is the top shopping destination for about 45% of the demographic. That is more than two to three times greater than the next-most-popular Web site, Unity Marketing's President Pam Danziger tells Marketing Daily.
"[Amazon.com] has been a cornerstone of Internet shopping since e-commerce first began and has consistently adapted to the needs of its customers in order to build a loyal following," Danziger says. "For the most discerning affluent shoppers, Amazon offers outstanding levels of customer service along with an expansive product selection."
Yet the nation's wealthiest consumers are also looking for bargains online. Fourteen percent of shoppers went to eBay, 10% used Groupon and 8% hit Craigslist.com. Wealthy shoppers are also heading to flash-sale sites such as Shopittome.com, Gilt.com, Hautelook.com and Amazon's entry into the category, MyHabit.com.
"They don't get wealthy by spending all their money. They [like to] compare prices and features," Danziger says. "We have to recognize conventional wisdom doesn't apply. They'll go to Craigslist for bargains."
It's likely, she adds, that these wealthy consumers are heading to sites such as eBay and Craigslist to unload some of their own possessions, as well. Regardless, the wealthiest of consumers are clearly heading to these sites, and it would be a good place for marketers to find them. "It is important for marketers to realize that their wealthiest shoppers are keenly interested in value and bargains, particularly online," Danziger says. "These deal-oriented sites attract even those at the highest income levels."