Luxury Purchasers: Who Are They and What Are Their Interests?
Following Bob Shullman’s article in the April 2015 issue of Admap, “Insight into US luxury consumers,” readers of that article asked for more insights about the purchasers of the seven luxury “super-categories” highlighted in that article. Who are those purchasers? What are their interests? What makes them different from the average American consumer? This brief addresses those specific questions.
Marketers and their agencies targeting consumers in the luxury and affluent worlds would do well to take to heart a critical directive: “Understand the Buyer.” While luxury purchasers all have money-to-spend in common, there are significant differences regarding the luxuries they may buy based on gender, generation, household income, and personal net worth. Differences also arise when it comes to what they’re buying, their attitudes about life, their views on the economy, their shopping habits, and their leisure activities, as well as where they report seeing or hearing advertisements. What is absolutely clear to us is that one size does not fit all, making it imperative for marketers of luxury and affluent products and services and their agencies to plan and execute accordingly.