The Art of Selling to the Affluent: How to Attract, Service, and Retain Wealthy Customers and Clients for Life, 2nd Edition

Chapter 2

The Affluent Mind-Set Shift

Today’s affluent say that advertising is the least important influence on major purchase decisions.

—Factoid, 2013 Affluent Purchasing Decision (APD) Research

I needed a new pair of Levi’s jeans—a brand I’ve been loyal to since college. So when my daughter mentioned a sale at the local outlet mall, I sprang into action. After donning an old pair of Levi’s (to ensure I could identify the right style), I jumped in my car and drove to the store.

Although the young salesperson wasn’t especially knowledgeable, she finally discovered where my style was located and directed me to a dressing room. So far, so good.

I tried on the jeans, discovered that they fit, and headed for the register. So far, so good.

I asked for confirmation of the sale price, and the young lady revealed that the discount required the purchase of two pairs of jeans. She even directed me to a sign advertising this caveat.

No good. In fact, this revelation was a deal-breaker.

I left without buying a thing, and later found the jeans elsewhere—for $10 less and no minimum purchase. For about a week, I complained about this experience to anyone who would listen. Not the kind of word-of-mouth influence salespeople like to generate.

This incident reveals not only a misunderstanding, but it also illustrates why affluent consumers have become more skeptical of advertising and salespeople.

If you were dining at a nice restaurant before the financial crisis and asked the waiter if the salmon ...