The rise of an affluent middle class across many parts of the European continent and beyond have become of great interest to customer engagement marketers. However, the differences between various cultures and countries can present a challenge for marketers who are concerned with creating meaningful messages that can maintain a high degree of individual relevancy. But a new report shows that there are some customer experiences that connect members of the middle class regardless of location or demographics.
New research from the Collinson Group, a leading UK based customer engagement and loyalty program solutions provider, shows that people who are becoming part of the growing global middle class tend to prioritize customer experiences that are enriching, altruistic, and family-centric above all else. These three factors were reported to be far more important to the majority (69%) of this socioeconomic group than either luxury products or customer experiences that brought short-term satisfaction.
"The quality of experience is increasingly the new currency for today's affluent middle classes,” said Christopher Evans, Director at Collinson Group. “Where previously the affluent global middle class was more motivated by luxurious trappings, they now place a higher priority on life experiences such as travel, as well as experiences offered by the products and brands they choose. This is an important distinction for businesses trying to attract this growing and influential group."
To reach this conclusion, Collinson Group solicited responses from 4,000 consumers across the United Kingdom, Italy, India, the United Arab Emirates, China, Brazil, and the United States. Every participant earned an average income that fell within the top 10 to 15% of the global average, which is how the study defined its middle class categorization.
In addition to preferred customer experiences, the study also classified four subcategories of characteristics that were commonly displayed regardless of age, gender, or nationality, which were dubbed “tribes.” Prudent Planners primarily focused on the wellbeing of friends and family. Stylish Spenders are more likely to be enticed by luxury items. Mid-life Modernists are captivated by technology. Finally, Experientialists prioritized memorial experiences above everything else.
"Traditional definitions tend to define the middle class by income, spend or the products they buy,” Evans said. "Our research identifies tribes which span geographies and in fact share common behaviors and attitudes. Understanding these motivations and offering tailored experiences, rewards and communications is key to winning the hearts and wallets of the affluent middle class."