According to the study, conducted for the IAB by Ipsos Mendelsohn, 98% of affluent consumers use the Internet, as compared with 79% of the general population. They spend 26.2 hours online weekly, 17.6 hours watching TV and 7.5 hours listening to the radio. The general population, on the other hand, spends about twice as much time weekly with TV and radio.
Affluent Media Usage (% of Segment)
HH Index ≥ $100K
Use the Internet
Average hours weekly
Listening to radio
Source: IAB, August 2011
Sherrill Mane, Senior Vice President of Industry Services, IAB, notes that "Affluents have long been one of the hardest to reach and most important consumer groups... (but) when it comes to digital media, the old paradigm has been superseded: the wealthiest Americans use digital media far more than their less affluent counterparts."
According to the survey, affluents overall currently comprise 21% of U.S. households, have 70% of all consumer wealth, and spend 3.2 times more than other Americans on purchases. Compared with non-affluent consumers, after viewing digital ads affluent consumers are also somewhat more likely to be aware of:
And, 59% of affluent consumers reported taking action based on a digital ad during the preceding six months.
Mane observed that "... the combined reach, exposure and influence of digital as an ad vehicle to affluent households is simply unprecedented."
The receptivity of affluent Americans to digital advertising is underscored by their greater understanding of the ad-supported web model and the benefits of ad targeting:
Part of what affluent consumers want from that customized experience are ads relevant to their current shopping interests (ie., auto ads if they're ready for a new car, airline ads if they're planning a trip... wherever they may be on the Internet)
Ads Aware Of On Internet (% of Segment)
HH < $100K
HH ≥ $100K
Ads relevant to current activity in thought
Source: IAB, August 2011
Affluent Americans are twice as likely as the general population to own smartphones (33% vs. 17%), and 79% of the affluent say their lives have become "intertwined with technology" over the past decade. However, they are more likely to say that their lives have become:
Bob Shullman, President of Ipsos Mendelsohn, says "... affluent consumers have increasingly come to desire relevant and customized experiences... in part because they are living technology-infused lifestyles... they have come to expect the benefits of digital media... "
To read more from the review, and access the PDF full summary, please visit here.