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Wealthy Americans have been at the forefront of smartphone app use and mcommerce. And that trend is likely to continue, according to a Q1 2012 study by the Luxury Institute and Plastic Mobile of US consumers with an annual income of at least $150,000.
According to the report, 60% of these wealthy Americans owned a smartphone, of which more than 80% had downloaded an app.
However, the Institute found that only a small number of wealthy smartphone owners (12%) had downloaded a luxury brand’s app. That’s something that luxury retailers may want to work on changing, as wealthy smartphone shoppers are fairly consistent mobile shoppers. The survey found that about two-thirds of wealthy smartphone owners said they shopped on their smartphone at rates ranging from rarely to regularly. And 63% of those shoppers reported having gone a step further to make a purchase on their mobile device.
Mobile luxury shoppers were most interested in using apps to gain access to discounts. Forty-six percent of those who had downloaded or planned to download any mobile app said they expected a luxury app to provide them with a loyalty program. Early access to sales was the second-highest anticipated app feature, at 45%.
The Institute also found that more than 40% of wealthy app downloaders said they were interested in apps that would provide a secure and convenient means of making luxury purchases. While almost half of wealthy smartphone owners said they preferred an in-store shopping experience to mcommerce, luxury brands should not ignore the sales potential provided by mobile apps. Seventy-two percent of those affluent smartphone owners who shop via their device said there was no upper limit to what they would be willing to spend on an mcommerce purchase.
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Check out today’s other articles, “Online Sales per User Continue to Climb in North America” and “Ecommerce in Brazil Surges with Middle-Class Adoption.”
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