Richie Rich would love shopping online. Perhaps for a new outfit for Irona the maid, or a bone for Dollar the dog. Either way, according to a new study from Google, the internet is a shopping destination of choice for the rich and the one most preferred by the very rich.
The study looked at wealthy shoppers ages 25 to 64. It showed that rather than hire personal shoppers, millionaires vastly prefer online shopping. In fact rather than go in-store on their own they are much more likely to use the internet. I wonder if the main reason is that so many of them made their millions selling online startups that they feel philanthropic in giving back to the channel?
It took a while for many luxury brands to take the plunge online. Who would have thought you would ever consider buying a Tiffany Blue Box online? “The world has changed,” said Pam Danziger, president of Unity Marketing, and a researcher on the Google study. “Companies have got to step up to the plate and adapt.” Many of the luxury consumers are strapped for time and looking to the internet not only to shop but to find product reviews and information.
“All the people we’re talking about have far more money than time. The internet provides that time efficiency,” said Ms. Danziger. “Customer experience, by definition, doesn’t mean in-store experience. It means how people want to be served. … Sometimes it’s so much more convenient to sit down at a computer and not have to set foot in the store.”
No related posts.
Author comments are in a darker gray color for you to easily identify the posts author in the comments
Articles of Interest
Nice Site layout for your blog. I am looking forward to reading more from you.
Tom Humes
Interesting. We so often have the image of the wealthy socialite gaily strolling from store to store with Alfred the butler hauling all her purchases. And to think all this time those people were miserable! (Poor things…)
You make a good point that many of them may have made their fortunes in startups. In that case, they know it’s crucial to business to support ecommerce….I’d be interested to know how many of the respondents were “new money” and how many were “old money”….
I would also be interested. I think “old” money might be more in line with afternoon shopping trips to the local Tffanys than new money wanting to get it now from the comfort of their office.