Luxury brands are more accessible than ever thanks to digital. In the past, they often shied away from appearing this way, but online, it's a whole new world. Ben Whattam, managing and founding partner of affluent-focused agency Keko London, spoke with eMarketer's Sean Creamer about why luxury brands shouldn't hesitate to be inclusive of both affluent consumers and shoppers who want a taste of the high life. Whattam was interviewed as part of eMarketer’s July report, "Affluents in France, Germany and the UK: Savvy and Demanding, Both Online and Offline."
Who is the affluent consumer today?
Some of the faces of affluent consumers are changing, but all of their digital habits align. There are digital-native millennials that are occasional buyers, as well as high-net-worth individuals that shop often—a group dominated by Generation X and boomers at the moment. Both are technology-driven and tech-savvy.
The emergence of brands such as Net-a-Porter and the dominance of high-end online fashion confirms that consumers across the spectrum are digitally connected. Affluent and nonaffluent consumers want to engage with their favorite luxury brands on digital channels. And digital advertising from luxury brands increasingly reaches consumers that aren't directly affluent, but still make luxury purchases.
There are buyers that consume luxury goods regularly, but nonaffluent consumers are increasingly punctuating their lives with indulgent purchasing.
Can you shed some more light on subsegmentation within the broad "affluent consumer" category?