In the luxury good market?

In the luxury goods sector, nearly 80% of consumers said they turn first to the internet or email to learn about companies and the products they sell, with 53% preferring to contact goods providers online about new products, and only 38% preferring to use the telephone. When finding out about an existing product, online and telephone channels were found to be equally popular among wealthy consumers for contacting luxury goods firms.

While enthusiasm and acceptance certainly run high for internet and email channels among luxury consumers overall, older and wealthier consumers still prefer the telephone. Wealthy consumers, aged 50-plus, still prefer the telephone – according to the Luxury Institute. I wonder if there is such a thing as the Austerity or Necessity Institute?

Also preferring the telephone to the internet and email were individuals with an annual household income of more than US$1 million, as well as those with a net worth north of US$5 million. Dick Stroud