Marketing luxury products to the global affluent can be tricky business.
This year, marketers that targeted the global affluent with their campaigns and advertisements earned a middling grade from the audience they were after.
The global affluent graded luxury brand marketers with a “C,” or unsatisfactory, according to the YouGov Affluent Perspective. Each year, YouGov asks more than 8,000 people about their attitudes toward luxury, including about the effectiveness of marketing.
Only 36% of the global affluent are happy with the way they are being marketed to in general. Among luxury consumers satisfaction rises to only 45%.
The All-In luxury purchaser—those who buy mostly luxury products—show the highest level of satisfaction (81%).
In addition to the All-In luxury purchaser, marketers are also having success with young people, according to YouGov’s data.
More than half (51%) of Millennials say efforts by luxury brands to reach them have not gone unnoticed and that those brands are doing a good job of marketing products to their generation. It might be that the brands have the right messaging for Millennials, which is the first most important hurdle for any marketer, especially affluent and luxury marketers.
The global affluent want to be understood and have messages tailored to them. But according to YouGov data, this group has mixed feelings about messaging: 50% of the global affluent agree that luxury brands don’t seem interested in targeting people like them.