The 2021 Affluent Consumer Insight Study was conducted to understand how shopping and media consumption have evolved since Covid. Our newly opened Ifop North America shares with you some key insights :
- Which e-commerce platforms are winning by product category?
- Which social media platforms, beyond Youtube, Facebook and Instagram should be on your radar today as you plan your communication strategy?
The playing field is moving quickly and this recently conducted study will help you navigate these mini evolutions and shed light on where to pivot or evolve if necessary.
While most of the trends are not new, Covid has certainly accelerated and intensified them. The good news is that affluent women are optimistic to return to stores in the second half of 2021 and most have NOT delayed luxury shopping. Pre-covid there was a trend to spending more on experiences than luxury products but as experiences are nearly impossible these days, luxury purchases (especially jewelry) have not decreased as much as anticipated. Not surprisingly, social media and streaming increased during Covid but it’s important to take note of channels that are no longer just for teens- that’s Snapchat and Tiktok! These are two channels that you should be investigating as part of your communication strategy if you haven’t already. Since online shopping fills most needs these days, luxury brands will need to re-think their brick & mortar retail concepts as expectations evolve and differentiation will be key.