Affluent Millennials Open to Advertising
September 2010 -- According to the 2010 Ipsos Mendelsohn Affluent Survey, contrary to the popular belief that 18 to 34-year-old affluent consumers are more likely to reject or avoid advertising than older affluent consumers -- these younger consumers are in fact more open to advertising nearly across the board.
The 2010 survey focuses solely on the top fifth of U.S. households based on current household incomes ($100,000 or higher). This group of households accounts for approximately 60% of household income and about 70% of all net worth.
Additionally, on average they are 2.0 times more likely to buy goods and services than the mass market and, when they buy, they spend 3.2 times more.
Compared to older affluents, 18 to 34-year-olds were likely to be:
- 9% considerably or somewhat more interested in magazine ads
- 13% more receptive to direct mail advertising
- 13% considerably or somewhat more interested in TV ads
- 19% more open to shopping mall advertising
- 25% more likely to be interested billboards ads
- 28% more likely to be receptive to website ads
- 47% more likely to be open to movie theater advertising
- 5% less interested in newspaper advertising.
For affluents across all age groups, the average number of magazine issues read annually decreased 16% while the average weekly hours spent on the Internet increased 12%. The average hours of weekly TV viewing dipped slightly (-1%).
About: The survey was fielded in June 2010 via mail in all 50 states and in Washington, D.C. The survey features a widely dispersed sample, has substantial rate of completions (36% in 2010) and its population projections closely reflect the Current Population Surveys of the Bureau of the Census.
Source: Advertising Age, Magazine Readership Off Sharply Among Affluent, September 13, 2010.