Buoyed by stock market gains as well as improvements in the housing and job markets, optimism among affluent Americans has reached a six-month high, according to Ipsos MediaCT's February 2013 Mendelsohn Affluent Barometer.
The study also found that more than one in three (37%) Affluents—adults living in households with at least $100,000 in annual household income—multitask regularly: Two-thirds (66%) say multitasking contributes to their productivity.
Below, additional findings from the February 2013 Mendelsohn Affluent Barometer from Ipsos MediaCT.
Affluents constitute 20% of the US population and hold 69% of the privately held net worth in America, according to the report. They are vitally important for many marketplace categories, including luxury, automotive, financial, technology, and travel.
Some 43% of Affluents were optimistic about the US economy in February, up from 40% in December 2012 and 34% in October 2012. By contrast, only 36% of Affluents described themselves as pessimistic in February.
Ultra Affluents—the 2-4% of Americans with at least $250K+ household income, are even more optimistic: 48% say they are somewhat or very optimistic about the US economy, and only 31% say they are pessimistic.
Overall, more than one-half (52%) of Affluents now believe they will be better off in 12 months, up from 41% in December 2012.
Luxury spending among Affluents will likely remain at current levels; however, spending among Ultra Affluents is expected to be stronger, particularly in categories related to travel, apparel, accessories, watches, and jewelry.
Multitasking and Technology
Multitasking is a way of life among Affluents, who tend to be early adopters of the latest technology, such as tablets and smartphones.
Among the Affluents surveyed:
- 27% say they multitask "almost constantly," and an additional 37% multitask "regularly."
- 66% agree "multitasking helps me be more productive."
- 51% have engaged with social media about a television program while watching that program.
- 58% of smartphone owners "regularly" or "almost constantly" use their smartphone while watching TV, and 66% would find it "extremely" or "very" difficult to live without their smartphone.
- 53% of tablet owners "regularly" or "almost constantly" use their tablets while watching TV, and 33% would find it "extremely" or "very" difficult to live without their tablet.
About the data: The February 2013 Mendelsohn Affluent Barometer was conducted online February 1-8, 2013 with 1,055 adults age 18+ with household income (HHI) of $100K+ (“Affluent”). The sample included 192 Ultra Affluents, defined as adults 18+ with HHI of $250K+. The data were weighted to reflect US Census data.
Continue reading "Affluents Upbeat About Economy (and 2 in 3 Multitask Regularly)" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
Sign in with your preferred account, below.
You may like these other MarketingProfs articles related to Customer Behavior:
How Gen Z Relates to Brands [Infographic]
What do marketers need to know about connecting with members of Gen Z? This infographic explores their spending habits, favorite brands, values, and digital platform preferences. read this »
How to Use Psychology in E-Commerce [Infographic]
This infographic piece explores the decision-making process, different types of e-commerce behaviors, common psychological triggers, and psychology principles that influence conversions. read this »
Five Problems That Drive Customer Churn [Infographic]
This infographic explains how to calculate churn and covers five customer churn problems: misunderstanding your target market, not offering enough value, subpar customer service, weak brand loyalty, and overcommunication. read this »
The Rise of the Self-Service B2B Buyer
B2B buyers and marketers agree that the COVID-19 pandemic has changed the buying process: Buyers are investigating more on their own and taking more control, according to recent research from Considered Content. read this »
Five Lessons Marketers Can Learn From Online Reviews
Online reviews are of course useful for prospective customers seeking information about a business. But the education goes both ways: Businesses can learn a lot from their own customers by paying attention to reviews. This article highlights five of the major lessons. read this »
People's Customer Service Preferences in Times of Crisis [Infographic]
In times of crisis, people still prefer phone calls for customer service interactions, according to research from CGS. read this »