The Wealthy Want it All

When it comes to customer service, wealthy consumers aren’t willing to compromise. In a recent study, called “WealthSurvey” and conducted by The Luxury Institute, high net-worth consumers rated the importance of retail best practices with regard to customer data, problem resolution, returns and refunds, and sales.

Privacy ranked as the top priority with survey respondents, who assigned a 9.12 level of importance (on a 0-10 scale with 10 being the most important) to keeping customer data private and not sharing it with outside parties without permission.

Other findings include:

For the “WealthSurvey,” The Luxury Institute—a New York City-based research institution focusing solely on the top 10% of America’s wealthy—queried 832 wealthy American consumers with an average income of $338,000 and average net worth of $3.5 million.