Last week we looked at businesses that found success Catering to Wine Connoisseurs. GbBIS continues its series on businesses that target specific demographics by looking at businesses that cater to the wealthy 1% in America.
They say that, in America, the rich keep getting richer. If that’s the case, then it may not be a bad idea for your business to target wealthy customers. Not just upper middle-class wealthy; 1% wealthy. It’s hard to believe that the wealthiest among us would get richer without these companies becoming more profitable. Here is a list of just a few companies that have found success by targeting a wealthy clientele.
Coach, Inc. An American brand known for their luxury leather bags. This year, Coach finished the fiscal quarter with revenues in the billions.
Volkswagen Group. Before you say that you don’t need to be wealthy to own a Volkswagen, keep in mind that the Volkswagen Group also owns Audi, Lamborghini, Bentley, and Bugatti. Now those are some high-ticket items.
Goldman Sachs. One of the largest wealth managers in the world, and largely reputable in the US. The 1% certainly need a way to maintain and manage their money.
Apple. A popular brand among the wealthy and the non-wealthy alike. But Apple is certainly as high-end as you can get with consumer electronics.
Whole Foods. As close to a high-end grocery store as you can get. With a full selection of things like buffalo steaks and exotic, locally brewed beers, Whole Foods attracts those that have money and an adventurous appetite.
If you’re thinking of opening a business that caters to wealthy customers, you need to know where they are. Find out where the wealthy neighborhoods are in your area by using demographic data. Demographic data tells you everything from median income and age, to crime rates and consumption statistics. Demographic data can help you choose a better business location, as well as improve your target marketing and advertising.
If your business needs a way to find customer locations and analyze customer demographics, contact GbBIS. We offer the highest quality, most up-to-date demographic data for any area in the US and Canada. Get the demographics you need in the format that best suits your needs: maps, reports, databases, and web applications.
Contact GbBIS today and discover how our demographic data can help you better target your customers
Check in next week to see which businesses we will be highlighting in our series!