The Art of Selling to the Affluent: How to Attract, Service, and Retain Wealthy Customers and Clients for Life, 2nd Edition

Chapter 9

The Amazon Effect

Ninety-five percent of affluent consumers perform online research before making a major purchase decision.

—Factoid, 2013 APD Research

A few years ago, my wife gave me permission to upgrade the flat-screen television in our living room. Her instructions were simple: “I don’t think we need a bigger television, but if you do get one, it better match the aesthetics of the room. The fireplace [over which the screen had been professionally mounted] had better not turn into one big television.”

After receiving the green light, my first reaction was a silent “Thank you!” My second was to call my brother, an early adopter of electronic toys.

During the call, he shared his knowledge of flat-screen technology and told me how to perform some online research. This initial online search led to three top-rated models approved by my brother/consultant. I was almost ready to make the purchase, but I wanted to see these televisions in person.

Unfortunately, my forays into the brick-and-mortar world proved disappointing. Circuit City didn’t carry the models I wanted, and there were few salespeople available to assist me. (In hindsight, we all know why.) The trip was a waste of my time.

Best Buy had plenty of salespeople, but nothing else that would prompt me to stimulate positive word-of-mouth in affluent circles. The store advertised one of the models, but it wasn’t in stock. (Huh?) And instead of ordering the model, the salesperson pressured me to choose another one. ...