Affluence Not Just For Affluent

For affluent consumers, traditional media is still the way to go, per the latest monthly study by the Shullman Research Center’s Luxury and Affluence Monthly Pulse. Television is still number one, and magazines are number three for potential reach. Magazines and television were second and third, respectively, for potential effectiveness. 

"These luxury consumers are avid shoppers, but they are also avidly seeking relevant and engaging information and readily process that into planning to buy luxury goods and services," said the report. 

The study also says that not only are affluent Americans buying luxury items, but that less pecuniary people are, too. About one-third of American adults -- extrapolated from Shullman’s surveys -- said they definitely or probably will buy a luxury product or service over the next 12 months. The study, conducted online between late February and March 6, involved 1000 interviews of consumers in households making $75,000 or more



The firm says about 143 million adults live in households with total incomes below $75,000, and that they can afford luxury products too, within reason, whether they are within categories like wine, cosmetics, or fragrances. "Based on earlier research," said the research group, "we know that the vast majority of all consumers want to treat themselves occasionally to a ‘luxury’.” 

About 74% of those who make over $500,000 said they would buy luxury products over the next year.

Out-of-home includes ads inside airplanes. According to Shullman, among all American adults who are planning to buy luxury, advertising "inside airplanes" tops the list of potential platforms for generating interest. But that channel reaches only 8% of all adults planning to buy luxury goods or services.

"Man Reading" image from Shutterstock

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