According to a GlobalWebIndex article by Sam Ernest-Jones, higher income and readiness to spend make affluent consumers desirable targets for brands across a range of sectors. This group – defined as those who sit within the first quintile of characteristics relating to wealth, educational achievement, working status, vacations, device ownership and car ownership – shows engagement beyond the luxury market with opportunities in areas such as sports, gambling, motoring, business, economy and finance. 

Who are these affluent consumers? A survey by GlobalWebIndex shows that this group is both image-conscious and ambitious, being 50% more likely to fall into both the “cosmopolitan” and “status-seeker” segments than the average internet user. They value well-respected brands that will elevate their position among their peers, with 69% saying they tend to buy the premium version of a product. Only 6% of this cohort fall into the “economical” segment, occupied by those who seek value for money above all else from their purchases. This shows that affluent consumers prioritize brand status over the practical value of the product.

Affluent consumers have high ambitions in both their personal lives and careers. Seventy-six percent of this group say they’re motivated to be the best they can be, which aligns with their desire for higher-value products and status-elevating items. Affluent consumers are also highly career-motivated, with 71% citing career progression as a key ambition. This statistic, along with the 64% who state investing money as a goal, highlights the likelihood of this cohort being high earners as well as seeking financial security.

Product quality is the primary factor that motivates the affluent consumer to advocate for a brand at 52%. Rewards such as discounts and free gifts come in second at 41%, despite the fact that value for money is not prioritized by this group. Great customer service...