DO YOU KNOW YOUR CUSTOMERS?
Part 2: The Midult
Modern marketing is all about tailoring your messages to suit your audience. What’s more, the combination of consumers providing reams of data and our ability to collect and analyse it, means we can target more precisely than ever. It allows us to profile consumers like never before so we can give them the customer experience they want and the products they desire.
In part two of our look at consumer profiles for the jewellery sector, we look at a highly influential group, the Midult*.
THE MIDULT
If you’re going to concentrate your efforts on only one consumer profile, then it really ought to be the Midult. Why? Because these 35 to 55-year-old women currently have more spending clout than any other segment of the population. Don’t, whatever you do, fall into the trap of thinking they’re anything like the stale, old preconceptions of midlife ladies, however.
The Midult welcomes midlife with enthusiasm and is digitally engaged, self-reliant and confident. They are the wealthiest, healthiest and most active generation of women that has ever been. If you’re not engaging with them, then you’re overlooking 8 million women in the UK alone with tremendous spending power. Not only that, they exert a powerful influence over the age groups above and below them, further underlining their importance.
As part of Generation X, they’re not afraid to rebrand middle age, but they’re also realists and don’t seek to gloss over the challenges that come with midlife. In the same vein, they appreciate brands that do the same, that celebrate midlife with humour and honesty and do not make the mistake of thinking that age is an impediment to style.
As for the jewellery sector, in particular, you should note that the relative affluence of the Midult means they are not easily put off by high price points. In fact, they do like to treat themselves and they’re looking for light-hearted luxury. Think cocktail rings and oversized necklaces, enamel, pearls with diamonds, cuffs, baroque pearls, pearls with gold and asymmetric necklaces to name but a few.
The Midult then is a hugely important consumer with influence and spending power that should not be ignored.
*Source: Trend Vision Consumer Profile