Using the latest social media outlet or hyping the next big luxury product is not likely to attract wealthy customers, says Ron Kurtz, president of the American Affluence Research Center. These consumers are more likely to have consistent spending behaviors, live within their means and are looking for value in a product or service.
“These have been the basic priorities and values of the wealthy and affluent for decades. This is not new,” he says. “Quality, value, good service: these are the things that are always important to the affluent and the luxury market.”