Affluent Consumers trending in UK outlines the brief overview about the
prosperous market along with the changes in demographics, attitudes and values
that will bring different opportunities as well as challenges to the marketers
who are trying to reach this consumer segment with the highest spending power.
Affluent consumers are less expected to live in small towns and rural areas
outside the 100 largest
metropolitan areas. There are 62 million American
consumers living in affluent households in which New York metropolitan area
contains more affluent households by far than any other. The 2.1 million
well-off households in the New York represent 9% of all affluent households.
Most of the people in U.K. are the target audience to the market due to
their huge lifestyle activities and these leveraging lifestyle trends also
drive consumers to the various stores. Today’s affluent
consumers, with incomes of $100,000 or above and roughly the top 20% of
the 123 million U.S. households, have largely recovered the markets from the
recession and have plenty of cash in hand to spend.
It has been noticed that 21%
of affluent consumers eat out at least once a week, retailers are tapping into
booming fitness trends because affluent consumers take health treatment
(Including massage, reiki) at least once a month. It has also created an
opportunity for the spa market.
According to the report, affluent consumers have the energy and financial
ability to buy from various Britain brands. It is also observed that marketing
and products from British origin are important in ensuring the future growth of
the economy.
Further, the report discusses about the issues and insights that are
reducing the market proficiency. For the marketers, family time proves a top
priority. In fact, businesses will profit by assessing the factors involved in
the purchasing decisions made by affluent
consumers; keeping them in mind for forward planning. It makes sense to
cater for a relatively small number of population if they are responsible for
half the nation's consumer spending. This fact alone reveals that this market
does spend, even though they spend carefully and wisely.
