Where Affluent Clients are Shopping

According to a  trend report from Unity Marketing published in 2015, Affluents Online:  A Generational Perspective of How Affluents Use the Internet in their Luxury Lifestyles,  shows that since 2015 retail sales have grown steadily at 17% while online shopping has doubled.

“Online e-commerce is the growth darling at retail, continuing a steady upward trend even during the Great Recession,”   according to Unity President Pam Danziger and author of the trend report.

Danziger is also quoted as saying:  “Yes, online retail still is dwarfed by traditional retail, but the trend is clear – Affluent shoppers today, and tomorrow, will want the kind of experiences that online retail gives them.”

According to the report, affluent shoppers, with incomes at the top 20% of U.S. households, are the most coveted of shoppers.

While they are only 22% of the population,  their spending potential is huge.

Their spending was estimated to reach almost $6 trillion in 2015, nearly 50% of the total $12.1 trillion of total U.S. personal consumption last year, as reported by the latest BEA estimates.

Where Affluent Customers Are Shopping Today:

• 72% Shop at online only retailers such as Amazon, Ebay etc…
• 65% Shop at discount department stores and mass merchants.
• 61% Shop at Clothing and/or Fashion Accessories Websites and Stores
• 60% Shop at Department Stores and Department Store Websites
• 60% Shop at Home Improvements, Garden, Hardware and Outdoor Living Stores online and offline.
• 54% Shop at warehouse clubs or websites such as Costco
• 51% Shop at Cosmetics, personal care, beauty sites and specialty stores

Wealthy shoppers are looking for bargains online

What stands out from the data, however, is the interest ultra-affluents have continued interest  in online shops that are geared toward savings.

Also attracting the bargain-hunting, yet wealthy ‘fashionistas’ are flash sale sites like Shopittome.com, Gilt.com, Hautelook.com, BeyondtheRack.com and Amazon’s new entry into the category, MyHabit.com.  Another favorite site for the wealthiest tech-oriented bargain shopper is Buy.com.

We see from these statistics above that while the ultra-affluent consumers may make purchases of top-end luxury items online, the data show that these consumers are also interested in finding great deals too.

Danziger Urges Us To Get online And Make Sure We Are Marketing to The Affluent.

Here are a few tips she shares:

• Study and learn how affluents are shopping online, make note of what features they value most in online websites, what makes sites appealing to them.
• Study and get insight into the social media habits of young affluents – She says that overly promotional efforts tend to fail to attract the affluent consumer
• Discover how successful online retailers are engaging the young affluents in social media and use the same efforts in your business.
• Make sure your website is mobile friendly since statistics are showing that more and more people are using their mobile devices to shop and browse online.

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