What the Affluent Like about Shopping Online – eCommerce

11/12/2008

Rich and powerful people like being in control. Hence, it’s no surprise that in a survey of 1,000 consumers, three-quarters are whom were classified as “ultra-affluent,” flexibility was the number one thing they liked about shopping online.

And, flexibility is all about exercising control, i.e., control of when and how you shop. There are no store hours to adhere to, no pesky sales people to blow off, and shoppers have the added convenience of pickup and/or delivery. It’s literally “your world.”

Survey Particulars

In terms of household income, 250 of the 1,000 respondents surveyed reported earning $1 million or more. The other 750 earned between a quarter of a million and a million dollars annually.

By far, the thing all respondents valued more than anything else was flexibility. More than 9 out of 10 cited this (94%). With just a 1% disparity, 93% said convenience was important. Included in the definition of convenience was being able to pick up in a brick-and mortar location, for example, or have a purchase delivered.

92% of respondents said that being able to locate products quickly online was important.

Online Advertising Pays Off for Luxury Goods Marketers

Luxury goods marketers are still investing more of their adverting dollars in offline marketing. However, the data is clear: online advertising is not only preferred by affluent shoppers, they value it and seek it out.

Consider this: three quarters of those who made more than a million dollars per year, and almost 70% of those who made between a quarter of a million and a million dollars annually, say that their most recent purchases were influenced by online advertising.

9 out of 10 of those who made $1,000,000 or more per year worked full time. Only 60% of those who made between $250,000 and $1,000,000 a year worked full time.

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