Rich People Are Less Loyal to Specific Brands

An opportunity for marketers

The rich may have more money than the rest of us, but if you think they're all alike, you would be wrong. Shullman Research Center's Luxury and Affluence Monthly Pulse for March asked about their spending plans, and 12 percent of men with a household income of $250,000 plus actually plan to spend less, compared with 2 percent of women. Those under 35, meanwhile, are significantly likely to spend more (45 percent) than their counterparts 55 and up (26 percent). Shullman also found that the richer the consumers are, the more likely they are to be undecided about which brand to buy when considering a luxury purchase. Clearly, being loaded isn't as easy as it looks.

Infographic: Carlos Monteiro


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Publish date: April 10, 2013 https://dev.adweek.com/brand-marketing/rich-people-are-less-loyal-specific-brands-148418/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT