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HENRY is not just a name

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HENRY is not just a name

In the US, a country very given to very marked segmentations, probably due to the number of citizens residing in the country, as well as the tradition and wisdom they have in the discipline of marketing, they have identified a target, a segment of the population that is Turning today into extremely interesting, from a commercial point of view for companies, these are the HENRY’S. Who are these HENRY´S? They are known as High Earners Non Rich Yet (in a free translation, high earners not rich? Yet). The name phone number search pakistan was forged some years ago, it was in 2003 when this label first appeared, although it is now when it is having more relevance. With this name, HENRY, the segment of the population that earns or has an annual income between € 72,000 and € 180,000 has been identified. They have a high purchasing power and their level of consumption is of great interest to companies, as I said. Therefore, there are many brands that try to generate offers for this type of customer, although this, to be fair, has its own criteria for consuming and does not identify itself as an easy-to-approach customer.

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The luxury sector has set its eyes on this type of customer. This client, which, as I mentioned, consumes significantly and is becoming very important in terms of size in the US and especially in emerging economy countries. It is precisely from the US where they have assigned the most importance to the exploitation of their commercial possibilities, as well as where the most information about their behaviors and habits comes from. It is not, according to a study that I have been able to access, an “easy” segment , far from it, I mean by this that it is not a segment that, due to having sufficient economic possibilities, its level of consumption does not have clear criteria Forex Email List at the time deciding the purchase. In this study that has been carried out in the US, it can be concluded that the item that determines the purchase is a differentiated value offer that represents a competitive advantage, and that for the HENRY that acquires it, it also implies a clear differentiation with respect to the rest of their fellow men. They are people who seek originality and that if it does not appear, their consumption level does not skyrocket, it is difficult to provoke the sale of the product or service.

It is the luxury brand sector that is becoming interested in this segment, due to its growth in number in emerging countries that I am commenting on, as well as because of the commercial possibilities and the consumption capacity they present. Undoubtedly, the interest of these brands in this new market has also been influenced by the existence of a bottleneck effect in the segments addressed by them, in their traditional market. The segments that have been addressed up to now are people with a high purchasing power level with certain tastes and preferences for prestige, quality and certain influences by idiom, as a result of the increase in luxury brands, as well as a stagnation / decrease of the segment in dimension by the recession, They have caused the need to search for new markets due to changes in the brand / customer / consumer relationship for the segment. They are therefore Los HENRY’s, a way of expanding their market for these same companies, which have found a new vein, a second market, which is undoubtedly easing the income statement of many luxury brands. This has also caused these same brands to start making suitable and adjusted offers for these people, which obviously cannot be the same offer that is transferred to the segment: VERY RICH.

Therefore, we can say that the luxury-semi-luxury brand companies are drawing up new offers and new marketing plans for these people who have a high level of income, but without becoming billionaires. Logic prevails and concludes, establishing that it is necessary to carry out a marketing formula appropriate to their tastes, needs and economic possibilities, and that they must be different from the offer made for the “rich” segment, since their needs are different like your resources and preferences. In any case, what the companies are very clear about, that with a generalized offer, little differentiated and of course, that does not suppose a real value for the HENRY, the demand of this segment is not stimulated, for which they demand a high level of dedication to the creation of the value offer to commercially conquer these people. The phrase that identifies the HENRY´S, and which the bidding companies have in mind, is “The HENRY´S are people who like luxury but with a head, with clear criteria and who really evaluate the differences and quality of the offers with respect to others.

In Spain, at present we can say that this segment, which obviously exists, has been reduced in number due to the problems of the crisis, but we find successful professionals, recently successful entrepreneurs, professionals from the world of new technologies, etc. , which are framed in the clichés of those defined in the post and which are undoubtedly an attractive segment for luxury companies. Perhaps they still do not have in our country the relevance that it can have in emerging countries, but after the economic recovery (which will take place) it will be a sector that must be taken into account when working commercially. That is why it would be convenient to study, monitor their consumption habits, preferences, business behaviors, life habits, because they are and will be a segment where business opportunities may exist with these very interesting people. They are lovers of buying online and traveling to satisfy their tastes as consumers, which makes it less affordable and commercially accessible at times, but interesting, very much to take into account, now! As I tell you, HENRY, it is no longer just a name, at least in marketing. Don’t lose sight of them.

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