Wealthy consumers were not the first group to gravitate towards mobile consumerism. Research showed that affluent shoppers enjoyed the experience of shopping and the personal service they received. But they are now fully mobile-ly enabled. A recently released study examines the shopping related behaviors that upper end consumers engage in with smart phones. If you target wealthy customers, this can help you create the experiences that they enjoy.
• One-third looked up product information before shopping
• Roughly 30% compared prices while in store, viewed product images or looked for discounts or deals
• More than 25% compared prices before going into, viewed product information while in a store or read reviews or recommendations
• Just under one in four checked on the status of an order they placed, looked up the availability of an item or looked to see if the item was available at another retailer
• Other practices affluent shoppers participated in were reading marketing messages and watching product videos
What Does This Mean To You?
While affluent shoppers may have money to burn, most of them don’t.
Maybe recent economic events have wealthy shoppers doing more comparison shopping and looking for the best price before buying. These affluent shoppers may be interested in a loyalty program, but you may need to package it a little different. While the main advantage to joining a program would be savings, other things to stress are services that could be offered. Exclusive offers, early access to items and pre-items. For larger more expensive items, delivery and set up is something to consider.
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Source: Luxury Institute