Ipsos MediaCT Syndicated Event Presentation Booklet

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Information about Ipsos MediaCT Syndicated Event Presentation Booklet
Business & Mgmt

Published on January 9, 2014

Author: IpsosMORI

Source: slideshare.net

Description

Presentation Booklet from 2013 Syndicated Event showcasing the Affluent and Business Elite Surveys together for the first time.

Understanding the Global Affluent and Elite Powered by Syndicated Surveys © Ipsos MORI © Ipsos MORI | Version 1

2 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Welcome The global Affluent and Business Elite surveys have been in existence for many years, but never have we seen these two complimentary surveys side by side, until now. The Affluent and Business Elite represent the wealthiest, and most influential group of individuals in the world. © Ipsos MORI

3 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 The surveys The Affluent include the Business Elite amongst their number. And the Business Elite are, of course, Affluent. However, they are very different. The Business Elite are reached via their companies and are representative of large and medium-sized companies. They are also representative of the types of senior position that exist in these companies. They are a disproportionately important group of people, whose power in the © Ipsos MORI boardroom and as consumers of travel, luxury goods and personal finance services is unparalleled. The Affluent represent between the top 13 and 20 percent of individuals based on their income. They are representative of people earning over certain income thresholds. The Affluent are the highest earning and spending individuals and are the most important consumers of a wide range of goods and services.

4 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Portraits And this chart really helps us to understand how the groups are different. The Business Elite are business focused and are signing off large budgets, have substantial financial worth and travel frequently in business and first class. The affluent by nature are big shoppers, owning premium goods such as luxury cars, and fly frequently. © Ipsos MORI

5 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Change Change happens the whole time. It effects absolutely everyone in many different ways: A change in the weather dictates what you wear in the morning A change in technology in how you access content However much it challenges us it’s necessary and enables us to continue. We’re pretty much in a permanent state of change. © Ipsos MORI

6 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Pace of change And, to help add to this, the pace of change we face is becoming ever quicker. The more often ideas come together, the more frequently it occurs. To put this into perspective, scientists think the age of the earth is about 4 and half billion years. The first telephone call was made in 1876, 137 years ago. 97 years on the first mobile phone call was © Ipsos MORI made in 1973 and now 40 years on from here we have phones that fit in your pocket that can pretty much do anything from monitoring how well you’ve slept to playing music that suits your mood. And interestingly, now more people in the world have access to a mobile phone than a working toilet!

7 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Two areas So, we’re now going to focus on two areas of change that we’ve seen more recently in the 21st century: • Economic changes • And, the development of technology We’ll be looking at these and specifically how two audiences have reacted: the Global Affluent, and the Global Business Elite. © Ipsos MORI

8 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Economies Economies around the world have changed dramatically. Some have seen growth. Others have slumped into recession. It’s a very mixed picture. So around the world, depending on who you are, and where you are, you will react differently to different situations. © Ipsos MORI

9 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Chocolate – recession proof In mature markets, such as Europe and the US the recession hit hard. The average person cut back on spending – from the weekly shop to a new TV. However, what they could afford was chocolate – widely considered a recession proof food. With consumers eating out less and eating at home more, chocolate allowed them that inexpensive indulgence. In fact, in 2009 Swiss chocolate makers had record sales. © Ipsos MORI There has been a fundamental change to how many of us live. So, that’s an example of how the average react to change, specifically in recession. The affluent and business elite react differently….

10 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Global Affluent But that’s how the average have reacted in markets that are in recession. The affluent react slightly differently…. The ‘Global Affluent’ come in all shapes and sizes, with a myriad of different wants and needs from Turkey, Brazil, Singapore to the USA. Yet, these individuals have one thing in common they are disproportionately important to most marketers of many products and services. © Ipsos MORI

11 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Busy lives They lead every busy lives, 60% work more than 40 hours a week and travel for business or pleasure on a regular basis, which could explain why 41% find it difficult to find a balance between private life and work. 7 out of 10 feel that there is just not enough time in a day. When they do have some time off, they use it to unwind and relax. So while unemployment continues to be a problem for the general population it isn’t for the affluent…. © Ipsos MORI

12 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Income The mean income of the average affluent respondent has remained stable over the last few years and we do not see any decline in their buying patterns, however, they are being more conservative in how they invest possibly to protect their existing wealth. The proportion of people trading stocks and shares at least 6 times a year has declined from 27% in 2011 to 10% in 2013 although the actual total value of their investments has increased significantly + 2 billion euros. © Ipsos MORI

13 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Disposable income So, they continue to be the big spenders with the disposable income to purchase high value items. They like to treat themselves – and it’s not chocolate – it’s with the latest gadgets, fast cars or high fashion. Take the Affluent in the Middle East for instance. 14% spend 1,500 euros or more on jewellery in a year, which is similar to the amount of what the European affluent wear on their wrists. © Ipsos MORI The value of their main watch is nearly 1,000 euros, and they are planning to spend even more on the next one.

14 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Spending on cars Whereas the population are holding off replacing cars, the affluent still have enough to spend - in Europe, 1.7 million are planning to spend over 50,000 euro on a new car in the next 12 months. These are the people that keep the industry – luxury cars that make the most money for the companies… © Ipsos MORI

15 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Travel Travel is widespread among affluents in the USA, both for business and pleasure, with 86% having made at least one round trip in the last year. Two thirds agree that it is worth paying extra for comfort and service when travelling. It would be fair to describe The Affluent as ‘Global Citizens’ – they travel frequently, speak multiple languages and consume international media. Among the Affluent in Asia Pacific there is a 14% year-on-year increase for the number of air trips taken. So they do continue to go © Ipsos MORI on holiday, the amount of holidays taken in the past 12 months remains the same.

16 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Business is central The Business Elite being a different audience, think and behave differently. How they’ve reacted and adapted to the economic changes is distinctive and unique. So what was on their mind… As per their name, Business is central. They live and breathe it. Change is something that the Business Elite actively embrace – it allows them to develop and progress. © Ipsos MORI

17 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Challenges facing companies They’re not thinking about cutting their weekly shopping bill or worrying how they will afford to fill up their car. They are looking at the challenges facing their companies and how they can successfully manage these. They are embracing change, adapting their companies’ strategies as the world evolves. In 2010 almost 8 in 10 cited volatile markets and managing economic uncertainty as one of the biggest © Ipsos MORI challenges facing their company. This has fallen to 60%. Focus is shifting to other areas such as technological advancements and employee retention.

18 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Fuel and raw materials With continued uncertainty in the middle east putting pressure on oil prices it’s maybe not surprising that the number of Business Elite citing the price of fuel and raw materials as one of the biggest challenges has increased by a third since 2010. Fuel and raw materials allow their companies to produce technologically advanced goods and services that keep them competitive and thus profitable. It’s all a very long way away from your local garage forecourt… © Ipsos MORI

19 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 BRICS The 21st century has also heralded the emergence of new economies and the BRICS acronym – widely regarded as a symbol of the apparent shift in global economic power towards the developing world. These emerging economies present new opportunities to the Business Elite. In fact, in the last 6 years we’ve only seen the business they do with the BRICS grow. China and Brazil are driving this with the amount of business done with these countries increasing by over 25%. © Ipsos MORI

20 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Salary and net worth A by product of being one of the most senior business executives in a company is a high salary and net worth. Given the change in economic conditions we saw the European Business Elite take the biggest pay cut we’ve seen in a while between 2008 and 2009. However, the number receiving shares from their company increased by almost a fifth. So they are still benefitting. It’s all a very different world they exist in. They don’t have to watch what they put in their shopping trolley. © Ipsos MORI

21 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Business Elite wealth However, given the differing economic situations around the world we’ve seen some shifts in the Business Elite’s wealth. 2010 was a pretty significant year. Asia’s growth saw the proportion of millionaires amongst the Asian Business Elite overtake that of their European counterparts for the first time ever. And the gap is only getting wider… © Ipsos MORI

22 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 View of economy The Ipsos Global advisor study reported that 27% of the population view the economy as good – the corresponding figure for the Business Elite is 42%. The Business Elite are closer to what is happening. They have a more informed perspective, meaning their views change more quickly. The general population are slow to change behaviours, such as purchasing habits that they have been accustomed to in the more difficult economic times. © Ipsos MORI

23 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Purchasing behaviours And the Business Elite’s purchasing behaviours are different to that of the population. A couple of weeks ago a Moet and Chandon grand vintage collection sold for over £147,000 at Sotherby’s. And Asia’s love affair with fine wine continues – the Asian Business Elite leading this with a over a 60% increase in ownership of fine wine since 2008. They spend on what they want – economic slow down or not. © Ipsos MORI

24 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Technological change We will now look at the quickening pace of technological change and the specific affect this has had on the Affluent and Business Elite. But first lets just put into context where we are now… © Ipsos MORI

25 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 People online There are 3 billion people now online. This allows better communication, facilitating the sharing of ideas allowing the digital evolution to continue at an ever faster rate. © Ipsos MORI

26 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 iPhone Apple launched the first iPhone in June 2007 – over six years later 24% of the population now own one. 30% of the UK population now own a tablet, up from 6% just two years ago. © Ipsos MORI

27 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Multiple screens So people are now accessing content through multiple screens. Connected devices are becoming ever more fragmented creating big opportunities, but also big challenges! Mobile is enabling new forms of entertainment, communication, media and commerce. It’s changing how we consume. But not everyone is at the same place in terms of technological evolution… © Ipsos MORI

28 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Digital adoption When it comes to digital adoption, the affluent are at least 12 months ahead, they are early adopters and using multi-screens has been a regular part of the lives for years. 9 out of 10 own a mobile device. Given their busy lives Ecommerce is massive time saver and they purchase items from flowers, holidays and the latest smart phone online. The average value of their online purchasing in the last 6months has increased by over 50% in the last 2 years, with over 76% spending a minimum of E100. This will undoubtedly continue to rise. © Ipsos MORI

29 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Social networking The affluent actively pick and choose which content they want to engage with, for example social networking, access to this content is available anytime, anywhere. And regardless of geography and preference, online social venues are also increasingly a place to communicate and socialize with friends, colleagues but also customers and prospects. Social media continues to grow rapidly, the top 3 network sites have all increased universe sizes in the last 12 months. © Ipsos MORI While social media is undoubtedly growing, the top 4 networking sites among Europe’s affluent are Facebook, Google+, LinkedIn and Twitter.

30 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Daily life has become more digital It is a fact that reading print and watching TV still make up a large proportion of upscale media consumption, but at the same time daily life has become more digital, whether in the office, at home or when travelling on business or for pleasure. Mobile digital connectivity is the norm among Europe’s affluent, 90 own at least one mobile device, whether it be a smartphone, tablet, e- reader or netbook. The growth of digital platforms has had 2 primary effects: Affluent consumers who previously could not easily purchase a particular print title or have a connection to a © Ipsos MORI specific channel can do so easily via the internet. Shifting consumption patterns across platforms. Consumers are able to access content via different platforms allowing consumers to access the content they want on whichever platform is most convenient. No matter where they are, the affluent are always connected, over 16.4% using an average of 3 devices. Given the multiplicity of devices in use, it becomes increasingly important for brands to have an online presence that is optimized for computers, tablets and mobile phones, alike.

31 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Business model innovation. Technology also plays a big part in the Business Elite’s lives. It helps their companies to innovate and remain profitable. Just over two years ago (September 2011) Snapchat launched. It was said that Facebook offered to buy it just the other week for US$3 billion. That’s big growth quickly. And while people are sharing 350 million pictures a day on Snapchat, it’s probably safe to say it’s not the Business Elite. © Ipsos MORI However, the Business Elite are still very interested in companies like this – if not involved in them, they are learning from them. There’s David Butler here the VP of Innovation at Coca-Cola – obviously in his Sunday best! He’s said the only way to get this kind of growth is through business model innovation.

32 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Multi-screen behaviour They are also using technology themselves, given it’s many advantages such as helping them keep connected while on the move. They are ahead of the curve in terms of multi-screen behaviour – usage is increasing. The number owning both a smartphone and tablet has almost tripled in two years to 57%. © Ipsos MORI

33 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Device usage And they’re using their devices for a variety of activities from watching TV to reading. And interestingly to play games, and to shop… This technological transformation is changing the lives and behaviours of both the affluent and business elite. © Ipsos MORI

34 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Traditional platforms However, while we see this increased use of digital it’s important to remember that they are also continuing to consume by more traditional platforms such as print and TV, remaining loyal to those brands they have progressed through life with. © Ipsos MORI

35 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 The future In just the last few years we’ve seen dramatic changes taking place and how both the affluent and elite have reacted to this. A question that remains is what will happen in the future? Of course we can’t be absolutely sure but… © Ipsos MORI

36 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Connected devices There’s going to be even more connected devices such as watches and smart glasses meaning that how we consume content and go about our every day life will continue to evolve. The Affluent are going to be among the first to buy these and the business elite the first to make them. © Ipsos MORI

37 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 In summary So, in summary if there’s three key things to remember… Number one! The Affluent include the Business Elite amongst their number. And the Business Elite are, of course, Affluent. Yet they are different in several ways: The focus for the Business Elite is on their business lives – the investment decisions they take, the business purchases they are responsible for and the global business travel they undertake. © Ipsos MORI The Affluent are a much broader group and the focus there is on a much wider look at their consumption and usage of products and services.

38 Ipsos MediaCT | Understanding the Global Affluent and Elite Event 2013 Key take-aways Secondly. Despite everything going on around the world, the affluent, being the highest earning and spending individuals, are the most important consumers for a wide range of goods and services. And, as the most senior business people in the worlds medium and large companies, the Business Elite remain a key audience for B2B marketing and communications, travel, finance and luxury goods. Key take away number 3. Both audiences consume large amounts of content through a variety of © Ipsos MORI platforms and more often than not are ahead of the curve in terms of digital adoption.

James Torr Director of Sales and Marketing t: +44 (0)20 8861 8173 e: james.torr@ipsos.com www.ipsos-mori.com Nathalie Sodeike EMS Director t: +31 (0)20 6070 822 e: nathalie.sodeike@ipsos.com www.ipsos-nederland.nl/ems

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