Recent research from The Affluence Collaborative (Feb. 2011) found that affluent consumers are still big fans of print media. More than 20 percent of consumers with incomes of at least $500,000 spend 11 hours or more each week reading newspapers. That’s compared to just six percent of the general population.
The data from this survey shows that consumers with incomes between $200,000 and $500,000 also read newspapers at a higher rate. Affluent consumers also read print magazines more than average. Only 11.5 percent of affluent consumers said they ‘rarely or never’ read magazines versus 30 percent of the general population.
These affluent consumers use television much less than the general population: 40 percent of the general population watched 21 hours or more of television each week in February 2011, compared with just 21.5 percent of high-income consumers.
One aspect of this high net worth group is similar to society overall: Younger affluent consumers are moving to digital media faster than their older financial peers. However, these print usage numbers are significant and prove that any advertisers targeting this level of consumer needs to be in print.
In another study by Frank N. Magid Associates, findings show that print newspaper advertising is the leading advertising medium cited by consumers in planning, shopping and making purchasing decisions.
The study, titled “How America Shops and Spends 2011,” demonstrates that print newspaper ads rank first in driving consumers to take action, with four in five adults (79 percent) surveyed saying they “took action” as a result of newspaper advertising in past month:
- 79 percent of newspaper readers used a circular from
the paper in the past 30 days
- 58 percent compared prices from one insert to another
- 54 percent clipped a coupon
- 46 percent bought something advertised
- 45 percent visited a store
- 45 percent shared the insert items with friends or family
- 41 percent took the insert to the store
- 40 percent made an unplanned purchase based on an ad
- 39 percent picked up shopping ideas
- 37 percent checked a website to learn more