Social media is a phenomenon that is still evolving. There does not seem to be any kind of body which can observe what actually is going on in the vast social networking world, as it could provide insights about how people live, buy and purchase.

In order to gauge how the rich and affluent use the Social media, a research was conducted called How Affluent Luxury Consumers Use the Internet and Social Media. It found out that the affluent ones spend more time online than those who are not so rich.

Interestingly, much of the time spent online is used to make contacts and deals, and also to purchase goods online. 1,614 affluent consumers with incomes of $100,000 were surveyed and the facts have been quite startling. In fact, such market researches could help advertisers to learn how the rich spend and which websites they usually visit.

It is not clear if this could be termed as an infringement of privacy, but advertisers may have a lot to gain. Moreover, with proper placement of contextual ads, the right target audience for the luxury sector can be identified and tapped. Thus, it seems like a win-win situation.

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Via: Market Research