Gartner Research

Marketing to the Wealthy: Target Affluent Consumer Technology Buyers

Published: 05 November 2013

ID: G00247881

Analyst(s): Nick Ingelbrecht

Summary

Affluent consumers, the wealthiest 5% of the population, have become critically important to technology and service providers. Product and marketing managers need to recalibrate strategies to accommodate the shifting demographics of affluent consumers, including the retiring baby boomer generation.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • The technology spending of the wealthiest 5% of households is becoming increasingly skewed toward older buyers (age 55 to 74), driven by retirement of the baby boomer generation; this segment offers TSPs significant opportunities
  • Affluent consumers spend 17% to 21% more than average on the latest technology products, providing TSPs with a ready market; affluence typically correlates with more positive brand attitudes and a greater likelihood to replace/upgrade and switch to new product categories
  • The most affluent consumers are now the hardest to reach through media mass marketing; the biggest spenders have the highest expectations for personalized products, service and marketing, so TSPs must tailor their strategy accordingly
  • Methodology
    • Country Sample Size

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