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Where The Filthy Rich Prefer To Shop Online

byDouglas Ian
July 12, 2011
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Luxury Online Shopping HabitsWith the rich getting richer and the poor getting poorer in this lackluster economy, Internet advertisers and marketers are beginning to concentrate their efforts and advertising spending on the wealthy. This must mean all of the online action must be occurring at websites peddling ultra-luxurious goods, such as a sporty Porsche or a diamond-encrusted mobile phone, or some such thing. Not really. A marketing survey found that well-heeled individuals appreciate a good bargain just like the rest. The new Unity Marketing survey found that nearly half of all the super-wealthy spent their online dollars at the ubiquitous e-tailer Amazon.com. Deals and Large Product Selection Unity Marketing, a firm that specializes in deciphering the buying habits of wealthy Americans, found that over forty-five percent of the “ultra-affluent” shop regularly at Amazon.com. Ultra-affluents are defined as those having incomes over $250,000. These folks, at the top of the economic food chain, are the wealthiest two percent of Americans. But they still want a good deal and free shipping. Pam Danziger, president of Unity Marketing, attributes the fondness for shopping on Amazon to personalized customer service and extensive product categories. Shoppers can find everything from books and electronics to designer clothing and toys. “For the most discerning affluent shoppers Amazon offers outstanding levels of customer service along with an expansive product selection, says Danziger. The rich also like shopping on eBay, but the auction site comes in a distant second behind Amazon. Everyone Likes a Bargain The desire for a bargain is the dominant thread running through the metrics of Unity Marketing’s survey and other studies of the super-rich. In fact, wealthy consumers expect to find a bargain on the Internet, as opposed to brick and mortar retailers. A study conducted last year by analyzing trends from Google Ad Planner found that shoppers with incomes exceeding $100,000 were more likely to visit e-commerce sites that offered value and savings, such as Kohls and Macys.com, instead of more upscale e-tailers, such as Nordstrom and Neiman Marcus. When it comes to luxury goods especially, the wealthy are on the lookout for a deal. Flash Sale Sites on the Rise The Unity Marketing survey didn’t find a big appetite among the over $250,000 crowd for bargaining hunting at the many flash sale sites that are now populating the e-commerce landscape. But the data showed that flash sale sites are more popular with the super wealthy this year than ever before. Flash sale sites, such as Gilt Groupe, Rue La La and Amazon’s site MyHabit.com, are driving the growth in luxury bargain hunting. The Google Ad Planner analysis found that shoppers making more than $100,000 are flocking to flash sale sites. Of the top twenty online retailers attracting the most well heeled shoppers, over a third are comprised of flash sale sites. What does this mean for online marketers and advertisers? Wealthy Americans are bargain hunters too, or at least they like to be under the impression they are getting a deal.

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Douglas Ian
Douglas Ian is the Chief Editor of Smedio Magazine, Bestselling Author, Strategist, Speaker, and Trainer, who helps businesses grow their revenue through specialized business optimization strategies.
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