A shortcut for how to think about affluent consumers.
One of the most important jobs for a marketer of high-end brands is to understand the incredibly complex diversity of affluent consumers in the marketplace. They are not a one-dimensional group, even if the mainstream media tends to portray them that way. » Read More
High-end home brands can benefit greatly by better understanding consumers.
One of the common themes at Upward Home is this: affluent consumers are not a homogeneous group who can be marketed to in the same way. Rather, they are remarkably diverse – in terms of their buying and usage patterns, media consumption, and their path-to-purchase. » Read More
Contrasting studies can be confusing, but your job is to remain focused.
Sometimes, I am dazed and confused by the variety of reports that come over the transom. Over the past week or so, I’ve seen a consumer sentiment study that is bullish, as well as another that is bearish. » Read More
New research reveals fascinating opinions among millionaires.
What group of Americans is concerned enough about wealth inequality that they actively provide financial support to poverty programs and educational opportunities for low-income children – and support a higher minimum wage and more taxes on the rich? » Read More
Be wary of a “one size fits all” marketing approach.
Too many marketers believe that affluent consumers behave alike – when in fact, they are as diverse a group as the general population.
Researcher Bob Shullman has written, “There are significant differences on many issues depending on their household income, wealth, age, and gender.
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Going beyond logos and craftsmanship.
When marketers of high-end home brands are seeking insights, trends, and inspiration, sometimes it makes sense to look out-of-category, toward other high-end segments such as automotive, fashion, and travel. A perennial source of inspiration for me is the luxury conglomerate, LVMH, parent company of Louis Vuitton, Bulgari, Dom Perignon, Tag Heuer, and 60 other high-end brands. » Read More
Cracking the code on a very small target group.
One of my goals with Upward Home is to dispel myths about affluent consumers, so that marketers can do a better job of building high-end brands and generating sales.
Typically, I focus on the 23 million affluent (HHI $100-249k) consumers in the U.S., as well as the 2.5 million ultra-affluent consumers (HHI $250k+). » Read More
The growing impact of eco-friendly homes.
Not all affluent consumers are environmentally conscious and not all environmentally conscious consumers are affluent. But there is a decent overlap between the two – and I believe that there is opportunity in that shared space for forward-looking marketers. » Read More
How Millennials will impact high-end home brands.
What if I told you that a group that makes up 20% of the affluent consumer base in the US is yet to fully participate in the economic recovery – but that when they return, their behavior will look nothing like the behavior of everyone else? » Read More
5 questions to ask in order to meet the growing trend of planned purchasing.
As more and more consumers carefully plan their major purchases, marketers of high-end home brands need to adapt accordingly. Research shows that affluent consumers are thinking more carefully before buying. » Read More