Luring the Holiday Shopper

Ellen C. Wells

Pam Danziger and the luxe shopper-focused minds at Unity Marketing are telling retailers—specifically retailers of high-end goods—to set their sights on the “heavy lifter” affluent crowd. This is especially important now that the National Retail Federation has downgraded its holiday spending forecast from an increase of 4.1% to just 3.5%. And that’s looking on the bright side, according to a recent post from the group.

The issue is shopper malaise: They just aren’t shopping. And sales and deeply discounted products may lure in shoppers, but likely not the shoppers that will keep your business going in 2016.

What to do? This is where the affluent shopper comes in. They make up 20% of the U.S. consumer market, but account for up to 50% of retail sales. These aren’t necessarily Bentley-driving, Rolex-wearing folks. These are people who make a tick above $100,000 and shop more at Target than they do Nordstrom. Call them the HENRYs—high-earners-not-yet-rich—who shop more and spend more at a variety of different stores from Dollar General to Crate & Barrel. How are you appealing to HENRYs this holiday? GP