180 Degrees from Thurston Howell III

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

Understanding the Most Sought-After Segment of Affluent Americans

Business leaders are the heaviest spenders.

 

Affluent consumers drive the U.S. economy.

In an economy where consumer spending accounts for 70% of the country’s gross domestic product, Affluents account for more than 40% of this volume. They are twice as likely to buy, and when they do, spend 3x more than the average household in many categories. »  Read More

Another Smart Way to Segment Affluent Consumers

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

The Dramatic Differences Between Younger and Older Affluents

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.

 »  Read More

What LVMH Can Teach High-End Home Brands

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

Important Group of Consumers Returns in 24 Months

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