Class A consumer panel. How to work with this online panel?
7 min read
Conquering the luxury market is not an easy task. Class A consumers have a very different profile from all other classes. But, with the help of studies and investigations through a class A consumer panel, it is possible to discover the strategies of companies that already have this audience in the palm of their hand. Understanding how a class A consumer's purchase decision begins and ends is fundamental to reaching this audience successfully and permanently. But, first, let's understand who the people representing the Brazilian class A are.
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Definition of economic classes in numbers
Economic classes in Brazil are currently classified as:
- Class A: 2,8% of the Brazilian population (monthly household income above R$ 22 thousand)
- Class B: 13,2% of the Brazilian population (monthly household income between R$ 7,1 thousand and R$ 22 thousand)
- Class C: 33,3% of the Brazilian population (monthly household income between R$ 2,9 thousand and R$ 7,1 thousand)
- Classes D/E: 50,7% of the Brazilian population (monthly household income up to R$ 2,9 thousand)
Although class A represents the smallest percentage of the population, the purchasing power this class has is much greater compared to consumers from other economic classes. According to a survey by Ibope Inteligência (2016), class A represents only 3% of Brazilian households, but holds 13% of the country's total consumption potential.
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Profile of Class A consumers
First of all, it is important to emphasize that luxury consumption is not just about purchasing a product or contracting a service. Class A, more than other classes, buys values, because they can. These luxury consumers are usually attracted to a brand when recommended by someone of the same level as them or by a public figure, but in addition to being a precaution, the recommendation by someone important creates a need to buy to belong, an important characteristic for companies to consider.
Want to know more about the Class B respondent panel? Click here!
Studying all these elite behaviors through the class A consumer panel is the path used by many companies to reach this audience, and it has worked very well. Through the class A consumer panel, companies gather super relevant and effective information, coming directly from the minds of Brazil's wealthiest. After studies and investigations, we can highlight some characteristics of class A consumers:
Demanding – Class A pays for perfection, and just as they pay a lot, they also demand a lot. The demands of this audience are not just about the product; they value a perfect experience, standardized stores, and personalized service.
Sophisticated – Of course, sophistication is a hallmark in this market. Even consumers with a simpler style still look for the elegance and sophistication of the product and the environment they will frequent. Investing in luxurious products and services is a basic task for those who want to conquer this market.
Loyal – Just as they are demanding, once these consumers find all the characteristics they seek in a brand, they stay. Many of these consumers prefer to play it safe and will rarely opt for an unknown brand.
Always right – The customer is always right is a globally known saying that works very well for the elite, thank you very much. Due to their high purchasing power and social respect, class A does not like to be contradicted. This is such a strong characteristic of this market that many brands have started to offer personalized and exclusive products for this audience, so if they don't like any detail in the product offered, they can have the product exactly as they wish.
Practical – Since money is not a problem for class A, they buy what they like. Many stores offer this audience the option to take clothes home and try them on more comfortably, for example. Similarly, aesthetic clinics offer home services, and the market for private personal trainers is growing every day, all services aimed at prioritizing practicality in the daily lives of class A consumers.
Learn about different types of consumers and their characteristics
What does the elite expect from a brand?
A class A consumer panel has respondents who care about:
HISTORY – Tradition is a common denominator in the purchasing decision of class A consumers. The elite's preferred brands are brands that have history and a reliable reputation among the class.
TREATMENT – More than just service, the treatment offered by the team when receiving class A consumers needs to be exclusive and very attentive. Some luxury consumers claim to be loyal to a brand as long as the treatment makes them feel important and powerful.
EXCLUSIVITY – Exclusivity is a highly valued characteristic by the elite. It would be false to say that class A pays such high prices for products solely for their quality, as there will always be brands of equal or even better quality that do not reach this audience. Since the prices of luxury market products are beyond the reality and possibility of the vast majority of the population, these people take advantage of buying from exclusive brands that are inaccessible to most. There are brands that thrive on replicating luxury items and making them available to classes with less purchasing power, but who aspire, even from afar, to feel as if they belong to the elite.
LUXURY – Basic is not the elite's style. One of the ways class A consumers make themselves noticed is through luxury items, which usually come with designs and materials not seen outside this market. Automotive companies, art galleries, jewelers, and even the food industry create products that, more than their simple use, have the mission of creating a feeling of power and prestige. Crystals, precious stones, and rare raw materials are strategies that brands use to add value and luxury to products.
STYLE – Aesthetics are certainly very important for the Class A consumer panel, for the most part. Whether in the home, clothing, or car, having a differentiated design and style is what will make these consumers noticed by the rest of the world. Quality is obvious to them; the differential lies in the exclusive and innovative design, and of course, that it is compatible with the elite's profile.
QUALITY – Although the elite is not so concerned with preserving products, they value the quality and comfort of items. These class A consumers are always on the lookout for noble raw materials and for the product or service to be well-produced and without flaws.
STRONG IDENTITY – Class A consumers seek brands that are consolidated and known as luxury brands. Since this audience consumes based on recommendations from their social circle, having a brand recognized with an exclusive and luxurious identity can be the key to winning over this client. Using publicly known figures is a strategy brands use to help create this identity.
Hey, do you know the details of the Class C respondent panel?
It is possible through the class A consumer panel to have direct communication with this audience and receive information that goes beyond the basics. Knowing luxury consumers in depth is essential to reach this market, which is by far the most demanding, but also has the highest purchasing power. Once brands reach the elite's level, it is necessary to understand the particularities of this market even more, in order to never disappoint them, as they either love or hate a brand.
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