Last night, Dwell Media revealed the findings of their newly-created “Dwell Strategy and Research” division’s study regarding the “New Face of Affluence.” As we mentioned in an earlier post, the study took an in-depth dive into the buying habits and motivations, desires, brand loyalties and concerns of a select group of individuals. The group consisted 2,230, 61% of whom are men, who are mostly in their 40s and came from households with an income of over 100,000. Interestingly, not all of those surveyed were Dwell magazine subscribers, although all involved did have some familiarity with Dwell Media as a multi-platform brand.
The report includes mentions of 620 brands ranging from the likes of Target and IKEA to LVMH Group and Richemont.
Click through for more information on what Dwell Strategy and Research discovered — and what this information means for consumers and brands alike.
The goal of the survey, as explained to me by Dwell Media president and publisher Michela O’Connor Abrams and Dwell magazine founder Lara Hedberg Deam, was to focus on fully understanding the needs and desires of consumers and not, necessarily, on the media’s or specific brand’s predictions or preconceptions on what it is that people buy or want to purchase. Unlike other surveys or consumer reports, Dwell took a look at thousands of participants (rather than a focus group of a dozen or so) and hundreds brands by going straight to the buyer herself and not, instead through a marketing firm or a brand with a clear bias, etc.
What they discovered was that this group is not necessarily concerned with the “prestige” or name of a brand. Also, as was mentioned before, while this group lists sustainability as a concern, many don’t often buy sustainable products. The beauty of this survey is that it is up to brands themselves to decide how they choose to use this information about their own brand, their competitors and/or their desired customer base to make informed marketing or design decisions – Dwell Media simply acts as the aggregator for all this information.
In fact, Dwell compiled a visual so that brand representative could see, clearly, how the top 50 companies named by the surveyed group compete against one another. The size of the text in the following word cloud connotes its ranking:
Anyone surprised by the findings? Any fellow design nerds geeking out?
With this initiative, Dwell Media has effectively shown how a brand that started out as solely a print publication can expand across multiple platforms to corner either a particular market or fully understand and cater to a specific readership.