In a bid to understand the growing market of the affluent segment, micro-blogging platform Twitter has partnered with the global market research company Ipsos to conduct its first study on this segment in the APAC region.
The Ipsos research surveying 1,750 respondents was conducted across India, Indonesia, Singapore, and Saudi Arabia. The survey methodology qualifies the 'Mass Affluent' respondent as being in the top 20 per cent of their country's income distribution, aged 25-64 years.
The study reveals that Twitter is increasingly adopted by the Mass Affluent across key markets in Asia. In India, 87 per cent of the Mass Affluent surveyed use Twitter on a regular basis, with 72 per cent of existing users planning to use the platform even more in the future.
It helps marketers gain a better understanding of the affluent users' personal values, attitudes, and outlook on life, as well as their digital and social media habits, and most importantly, why and what they spend their money on. The findings confirm that the product categories they buy depend on factors that go beyond their demographic profiles. In fact, as their incomes grow, so do their expectations of brands and their engagement on social media.
The Affluentials segment in India tends to spend the most on home appliances (58 per cent), premium cosmetics (48 per cent), premium skincare (46 per cent) and charitable giving (45 per cent).
The research found that Affluentials in India like to be better informed (83 per cent), want to help in the community (87 per cent), and believe that affluence has no value unless it improves the quality of life (78 per cent). Those who use Twitter are 1.6 times more likely to be the first to use new technology products, 1.4 times more likely to spend on luxury goods and are 1.4 times more likely to recommend new products.
The research highlights that close to half the respondents desire to stay updated with the brand and news of its products and services, 74 per cent are looking for environmentally-friendly products, and 71 per cent are tech-savvy, who look for mobile technology. Forty six per cent Affluentials in India engage with brands for latest news about the company and its products and services.
The study also shows that 89 per cent have searched a brand online or visited a store following a 'trigger' on Twitter, while 82 per cent have shortlisted a brand after doing research on Twitter. Mass Affluent on Twitter shows most purchase interest in apparel (88 per cent) and auto (86 per cent) in the past 12 months.
Taranjeet Singh, business head, Twitter India, says, "We are constantly looking for ways to help brands and marketers be more successful, connect and nurture their relationships with these Affluentials through real-time content that this audience values. With apparel, auto, and home and interiors being the products of immediate relevance to the affluent segment in India on Twitter, brands from the e-commerce, auto and real-estate sectors have a great opportunity to engage with users on a regular basis and make the most of the platform."
Apart from delving deep in profiling Affluentials, the study also gives tips to the marketers such as understanding their content needs, connecting with their interests and improving the customer service.
Read the full study below.