It’s a new year with a new President, but many of the challenges we faced in 2020 still linger. Ipsos recently spoke to Affluent Americans about their personal outlook for 2021, their upcoming investment plans and expectations for financial growth. In addition, we asked them how they feel the country will fare in the coming months and which issues are most pressing.
Revisit our recorded webinar to hear Tony Incalcatera (Chief Research Officer of Ipsos Affluent Intelligence) discuss these important findings from the 8th Annual Affluent Outlook Report. Listen in for these 4 key takeaways:
- Affluent optimism is a bulwark against short-term difficulties as we enter the end phase of the pandemic. Marketers should focus on the positive expectations of Affluents and focus on a more normal life and a return to enjoying experiences.
- For the first time in 5 years, there are more Affluents feeling that the U.S. is moving in the right direction than feel we are on the wrong track. Marketers should take note of the increased willingness to see the good in others, easing the perils of cause marketing. Emphasis may now return to product benefits as a means of connecting with customers.
- Pent-up demand, especially related to vacations and travel, continues to bubble up. Marketers should recognize the frustrations associated with the inability to experience life as it was and offer Affluents the joy of experiences.
- Four-in-ten Affluents increased their net worth in the past year thanks to investment growth and fewer opportunities to spend. Retailers will need to work harder to entice shoppers back into their stores and showrooms after defaulting to online and virtual experiences for the past year.
Why are these important? Holding almost three-quarters of the entire net worth of the U.S. and spending 2.5 times what non-Affluents spend, Affluents are key to a recovery from the negative impact COVID has had on our economy.