Who are the Luxury Consumers?

empathica WHO ARE THE LUXURY CONSUMERS? 25% earn less than $30,000 in annual household income 75% SHOPPER DEMOGRAPHICS 45% earn $100,000+ in annual household income of consumers buy nothing (or buy less) if there are not enough employees in the store. 38% are students 1 in 3 Top Luxury Service Elements that Consumers Value, From Most Important to Least Important consumers consider highly trained employees the most important factor when making a luxury purchase. 2 2222 1. Highly knowledgeable and well-frained employees 2. One-on-one customer service 3. Brand exclusivity 4. Welcoming store atmosphere 5. Many employees available to serve them Youngest & oldest consumers make most expensive luxury purchases IMPACT OF CUSTOMER SERVICE 18-24 S 25-34 35-44 PURCHASING INFLUENCERS PURCHASING DRIVERS Consumers use multiple sources to help them make their decision to purchase a luxury item Over 30% of > » 71% Went to the store >> Researched the product service anine consumers are purchasing luxury goods to reward 57 % Read online review >> 48% themselves. Spoke to a sales associate >>> 44% Got advice from endutamly >>>27% PERCEPTIONS OF WEALTH BANK PREFERRED CHANNELS Nearly 1 in 3 luxury consumers (28%) bragged about getting a good deal through: A third (33%) of consumers Almost half (45%) of consumers with household income between $50K and S60K consider themselves wealthy if earning $100K per year. think a household income of more than $250K is what is needod to consider themselves "wealthy". 50% BRAND 80% 10% ww. of consumers said they had purchased something between $25K and $50K 10% purchased something between $2.5K and $5K American shopping preferences are divided almost evenly between in-store and online. Whereas 80% of Canadians prefer shopping in-store. Another Source: Wave 2 2011 - Empathica Consumer Insights Panel. Results from Empathica's Consumer Insights, led by Dr. Gary Edwards and Empathica's Consumer Insights team, are based on outbound Internet surveys with Empathica's growing Insights Panel, derived from more than 30 million consumer surveys per year. Results have been weighted to reflect latest Census distributions in the U.S. and in Canada, including Region, Gender, Age and Income.