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.
» Read More
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
New tool helps retailers drive sales via Instagram.
Social media networks are by their very nature, well, social. They belong to people, not brands, and as hard as brands try, they will never quite “own” social media to the degree that they own other marketing channels. » 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
Recovery of the housing market brings opportunities.
If you were to chart the collapse of the housing market a few years ago, the downward line you would draw would be straight, unfaltering and resolute.
Today, if you were charting the recovery, the upward line you’d draw would be wiggly, choppy, and somewhat unsure of itself. » Read More
The surprising answer and how it affects high-end brands.
Most marketers I know would probably agree with Peter Drucker: the aim of marketing is to know the consumer so well that the product sells itself. Yet, at the high-end of the marketplace, why do so many marketers operate on outdated myths and misperceptions about affluent consumers? » 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