Readership held up much better among older cohorts and in affluent homes. Penetration of broadcast radio may be dropping, as just 47.6% of the sample population had tuned in during the prior month. However, more than half of males were recent live radio listeners in Q1, as were respondents in the most affluent homes and those ages 35 to 44 and 55 to 64.

The US’ per capita healthcare spending is already almost 2X the average of other wealthy countries. Yet it ranks last in quality of care and health system performance when stacked up against other high-income countries (like Canada, the UK, and Australia), per The Commonwealth Fund’s August 2021 analysis.

It helps them reach a young, educated, and affluent audience at scale, through a medium that demands attention. As podcasting matures, marketers are beginning to ask for more accountability of their media spend, along with tools that offer the same level of sophistication advertisers have enjoyed across the rest of digital media.

With its affluent user base and dominant position in the US smartphone market, Apple is well positioned to both generate and soak up future demand in this category. Apple will increase its mobile app install ad revenues by 26.3% this year, reaching $5.20 billion. That figure will cross $6 billion by 2024, putting Apple well ahead of its competitors.

JLL’s survey also found that affluent shoppers are more likely to shop online—but also more likely to cite a store’s holiday ambiance as a reason for visiting in-person. Overall, 71% of consumers said they shop in brick-and-mortar stores as often as or more than before the pandemic, per a Mood Media survey.

Their clients are typically high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). ESG Investing. MSCI defines ESG investing as strategies that explicitly consider “environmental, social, and governance factors alongside financial factors in the investment decision-making process.” BDO defines the three categories as follows:.

Card programs catering to mass and mass affluent consumers will likely bear the brunt. This includes travel site co-brands, low- to mid-tier hotel and airline co-brands, and non-co-brand premium travel cards (those with annual fees less than $100).

At the same time, wealthy consumers are fueling a boom in the ultra-luxury market. High-end fashion houses are spending freely on marketing—and some brands are being resold at a premium. We expect luxury retail sales will grow 6.7% this year. Brands and retailers that try to be everything to everyone will suffer.

On the other hand, name brands have an opportunity to target more affluent shoppers who haven’t yet slowed their spending—provided they don’t irritate them by resorting to shrinkflation (shrinking product sizes while maintaining or even raising prices). Go further: For more on private label brands, read our latest report here.

Unmet demand among the aspiring affluent consumer demographic. They’re in a bind: Their financial needs must be addressed, but they haven’t accumulated enough funds to work with advisors. Finally, Western consumers are getting closer to amassing super apps, which are digital platforms that conveniently bundle a wide range of services.

This somber fact is covered up by affluent consumers, who plan to boost their spending. On average, higher-income households (bringing in $100,000 or more per year) will spend nearly five times as much as their lower-income counterparts, according to the study.

And while some shoppers may start trading down to save money, there’s a huge opportunity for growth among consumers who have a little extra cash to spend: In a fall 2022 Ipsos survey, 52% of affluent adults (people earning $125,000 and over) agreed that top shelf or premium liquor brands are worth the additional cost.

Affluent consumers also participate heavily in travel rewards, specifically through loyalty programs, according to the Morning Consult study from February. Loyalty members may be spending smarter, but not less. Consumers are not only willing to pay for programs, but once enrolled, they tend to spend much more than nonmembers, boosting the bottom lines of travel companies.

The key takeaway: Musk is going up against a wealthy, powerful company that also has a lot of sway in the tech industry. Apple brought Facebook to its knees with its AppTrackingTransparency feature and could use advertising or an App Store ban to stop Twitter’s momentum.

And the majority of patients who participate in clinical trials are typically highly educated, affluent, and white, Sari Kaganoff, general manager of consulting at Rock Health Advisory, told Insider. Walgreens has Pluto Health, which offers a multilayered smart care coordination service.

Becoming the first bank to offer crypto access to retail customers beyond the very wealthy. The crypto funds, which provide investors with indirect exposure to Bitcoin, Bitcoin Cash, Ethereum, and Ethereum Classic, are only available through unsolicited trades. Demonstrating heft with its tech stack.

It enhanced its Walmart+ membership program, which has helped it make inroads among affluent shoppers. Building momentum: Walmart’s low grocery prices enabled it to grow market share over the past year, particularly among higher-income consumers. The retailer reported that December was its largest sales-volume month in the company’s history as it gained share with higher-income consumers.

Walmart, which generates over half of its US revenues from groceries, has grown its grocery market share thanks to its ability to attract more affluent shoppers. Target, on the other hand, generates a larger share of revenues from discretionary purchases such as home goods and electronics, which are categories where consumers have pulled back.

But luxury sales continue to soar: While mass merchants such as Target and Walmart have warned investors that inflation is hurting their near-term outlook, wealthy consumers appear unfazed by the negative news. For example, Hermès’ revenues rose 23% year-over-year in the first half of the year and its operating margin hit a record-high 42%.

Amex’s strong positioning in the premium and ultra-premium card space suggests it has a large segment of affluent cardholders who may be less exposed to inflation than lower-income consumers. T&E recovery tailwinds.

Consumer banking units’ Q4 results will draw much of the attention, as a strong job report and stock market rally in the first week of January suggested that consumers are still financially well-off. But larger trends hint that consumers may find their backs against the wall as 2023 advances.

Looking ahead: Despite high inflation and consumer sentiment sitting near all-time lows, many consumers remain fairly well off thanks to low unemployment, solid job growth, and rising wages. While wallets won’t stretch as far this year, there are enough discretionary dollars available to support strong holiday demand.

While the retailer said during its Q1 earnings call that it did not anticipate macroeconomic pressures to adversely impact customer spending due to its affluent customer base, demand began to soften in late June, particularly at Nordstrom Rack, said CEO Erik Nordstrom during the retailer’s latest earnings call.

But cost plays a role, too: Older and more affluent consumers may be more likely to watch at home, and have a PC or CTV. Connected TV Is a Game-Changer. CTV is already mainstream in key regional markets. Some 45.5% of households in France had a CTV in 2021, per GfK as cited by the Centre national du cinéma et de l’image animée (CNC).

But First Republic’s collapse clearly shows that consumers—especially the more wealthy and tech-savvy ones—are still spooked. Though interest rate risk hurt the bank, it would have likely survived if Silicon Valley Bank hadn’t collapsed. First Republic wasn’t dealing with a liquidity problem until consumers swarmed regional banks for their deposits—a clear indication that contagion is spreading.