Affluent customers are eager to spend their money on luxury goods and services. Yet as eager as they are, they do not simply spend their money willy-nilly. They do research, read reviews and recommendations, and seek advice. The advice they accept and trust the most comes from two sources: word-of-mouth referrals, and suggestions presented by the media. In other words, affluent customers are influenced in making luxury purchases.
According to Helen Leggatt, 43% of affluent Americans are influenced by the internet in their buying decisions. Another 30% are influenced by magazines, 29% by experts, and 19% by radio, television, and direct mail.
Ipsos Mendelsohn performed a survey of affluent customers in 2011. The results were summarized by e-Marketer:
Affluent customers who made more than $250,000 per year spent the most time online. In fact, the survey found that the higher the income level, the more time spent online. Those in the $250,000 category spent 27.4 hours per week on the internet, 17.8 hours per week watching television, and 10.9 hours per week listening to the radio.