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As American Middle Class Vanishes, Advertisers Focus Only On Richest 10%

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Filed: Country: Philippines
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Here’s something with a plus and a minus: Most Americans will soon be free of endless advertising and marketing campaigns, because the advertising industry has decided the only money to be made is in marketing things to the last people with money, the richest 10%.

The “minus,” in this case, is that only the richest 10% have any money to spend on ####### anymore, so that probably means you’re among the 90% now without money and also without any aspirations of ever making money. Too Much magazine assesses the situation:

“Mass affluence,” as a new white paper from
Ad Age
, the advertising industry’s top trade journal, has just declared, “is over.”

The top 10 percent of American households, the trade journal adds, now account for nearly half of all consumer spending, and a disproportionate share of that spending comes from the top 10’s upper reaches. “Simply put,” sums up
Ad Age
’s David Hirschman, “a small plutocracy of wealthy elites drives a larger and larger share of total consumer spending and has outsize purchasing influence — particularly in categories such as technology, financial services, travel, automotive, apparel, and personal care.”

If you’re wondering where the cutoff is, Ad Age says people not making household incomes of at least $200,000 are of no interest, and people not making at least $100,000 in household income by the time they’re 35 are also of no interest because they’re never going to become wealthy regardless of their aspirations. [Too Much via Metafilter]

http://wonkette.com/446740/as-middle-class-vanishes-advertisers-focus-only-on-richest-10

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Filed: AOS (pnd) Country: Canada
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Who you gonna believe, wonkette or your own lying eyes, Steven?

Watch tv, listen to the radio, pay attention to the advertising materials that end up in your mailbox every day.

Especially around a long weekend.

Still don't think they want your money?

Mall parking lots are packed around here...

Is Steven trying to tell us that the snooty rich people are at the mall on the weekend spending money with the peasants????


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Filed: Lift. Cond. (apr) Country: Spain
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Here’s something with a plus and a minus: Most Americans will soon be free of endless advertising and marketing campaigns, because the advertising industry has decided the only money to be made is in marketing things to the last people with money, the richest 10%.

The “minus,” in this case, is that only the richest 10% have any money to spend on ####### anymore, so that probably means you’re among the 90% now without money and also without any aspirations of ever making money. Too Much magazine assesses the situation:

“Mass affluence,” as a new white paper from
Ad Age
, the advertising industry’s top trade journal, has just declared, “is over.”

The top 10 percent of American households, the trade journal adds, now account for nearly half of all consumer spending, and a disproportionate share of that spending comes from the top 10’s upper reaches. “Simply put,” sums up
Ad Age
’s David Hirschman, “a small plutocracy of wealthy elites drives a larger and larger share of total consumer spending and has outsize purchasing influence — particularly in categories such as technology, financial services, travel, automotive, apparel, and personal care.”

If you’re wondering where the cutoff is, Ad Age says people not making household incomes of at least $200,000 are of no interest, and people not making at least $100,000 in household income by the time they’re 35 are also of no interest because they’re never going to become wealthy regardless of their aspirations. [Too Much via Metafilter]

http://wonkette.com/446740/as-middle-class-vanishes-advertisers-focus-only-on-richest-10

I disagree a bit. While I hope this means less junk mail for the rest of us, I highly doubt most savvy admen will neglect the other 90%. They tend to prefer volume over quality if you ask me. If there's money to be made I don't think they care about where it comes from.

But I do understand the point here... the upper crust spends more and that has also been the brunt of a lot of the focus on many ads you find in print, for example. Not many VJers I think can afford those fancy Swiss watches where you see some model 'piloting' an airplane. :lol:

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But I do understand the point here... the upper crust spends more and that has also been the brunt of a lot of the focus on many ads you find in print, for example. Not many VJers I think can afford those fancy Swiss watches where you see some model 'piloting' an airplane. :lol:

You understand the point here? Really?

Allow me to repeat the point, in the articles own failing words.

Most Americans will soon be free of endless advertising and marketing campaigns, because the advertising industry has decided the only money to be made is in marketing things to the last people with money, the richest 10%.

Free of?

the only money to be made?

This is such complete unadulterated bullchit.

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Filed: Lift. Cond. (apr) Country: Spain
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You understand the point here? Really?

Allow me to repeat the point, in the articles own failing words.

Most Americans will soon be free of endless advertising and marketing campaigns, because the advertising industry has decided the only money to be made is in marketing things to the last people with money, the richest 10%.

Free of?

the only money to be made?

This is such complete unadulterated bullchit.

:lol:

That's why I disagree with Steven. Obviously the advertising industry is not going to neglect the not-so rich 90%.

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Filed: Country: Philippines
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Yeah, Wonkette got a little hyper there, but here's from the original source...

The New Wave of Affluence

Five tiers of affluent households identified, along with which demographic is on its way to the rich life, and why it's time to abandon the idea of mass affluence.

May 23rd, 2011

By David Hirschman

Income inequality may be a political talking point in Washington D.C., but it's also a reality that marketers need to consider when they are positioning products aimed at upscale consumers. In the wake of the Great Recession, it's time to rethink how to market to the segment that drives nearly 50% of consumer spending. But just who is affluent today? And which group is on the path to the rich life? This Ad Age Insights white paper, based on studies and data from strategic partners Digitas and Ipsos Mendelsohn, identifies five tiers of affluent households and explains why true affluence isn't achieved until the $200,000 household income level. Two distinct groups are found at the $100,000-$199,999 household income level, one on the path to riches, and one that has fallen back into the middle class. Learn why career is one of the strongest indicators for attaining wealth, and how media habits change as consumers move up the tiers. This white paper includes 10 charts, available as downloadable Power Point slides.

aaAffluence2011_cover_web.05172011.jpg

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