There are 19 million affluent men on the Internet according to iProspect, and they are researching, shopping and spending more than ever before
Reaching the affluent male online has perhaps never been as important as it is in 2012. Menswear now accounts for 40% of global sales and grew almost twice as fast as women’s in 2011. In China, men account for over two-thirds (70%) of all luxury sales, in part due to the popular gift-giving culture amongst businessmen and government officials, in a market that is upwardly mobile and digitally driven.
iProspect, in partnership with comScore, are set to release “The Affluent Male: What His Online Behavior Can Teach Luxury Brand Marketers,” in a bid to define the affluent male, his behaviors and preferences towards devices, research and shopping. The study has so far identified 19 million affluent males on the Internet with a household income higher than $100,000, whom are connected through multiple devices and using them for both research and purchasing.
40% of respondents in the survey shop online at least twice a week and those who are shopping multiple times are spending in excess of $30,000 annually. Luxury menswear is on the leading edge of this growth trend, growing at a rate of about 14% per year.
Contrary to popular marketer assumptions, the affluent male is shopping for himself and the most searched items include travel, apparel, accessories and automobiles. 70% of the sample prefer to research and buy online, as opposed to researching online and purchasing in store.
Key Insights:
- 91% of respondents access a PC at least once daily, 77% have a mobile smartphone and 50% own a tablet.
- Engagement with these devices is high across the board – almost 100% of survey respondents report using their PCs and mobile smartphones at least daily and 85% reporting daily use of tablets.
- When an affluent male has daily access to tablet, he is 32% more likely to have made a purchase via the device.
- In terms of visibility, 71% have seen ads on a PC while one in three have seen ads on a mobile phone or tablet.
“ 91% access a PC at least once daily, 77% have a smartphone, 50% own a tablet ”
- Affluent males are more engaged with search than the general public, 96% use search to learn more about products. Search ads, especially for mobile devices, remain both relevant and effective.
- 71% report clicking on sponsored search links “sometimes,” “usually,” or “always”
- 55% use Facebook at least daily, 39% use Google+ at least daily
- Top websites visited: Amazon (41%), Yahoo (37%), Google (29%), eBay (20%)
- Most searched topics include for travel, automobile, apparel and accessories
The official whitepaper “Luxury Marketing: The Digital Anatomy of the Affluent Male” will be released May 14, Luxury Society readers can register here to receive the paper via email.
