More money, more mindsets: Why marketers need to rethink the affluent consumer

Asia Pacific’s affluent population may be growing faster than anywhere else in the world, but the bigger change for marketers is not simply how many wealthy consumers there are. It is what this emerging generation considers worth spending on.

As wealth shifts towards younger, globally mobile and digitally fluent consumers, traditional markers of affluence are increasingly giving way to experiences, passions and personal interests, according to Danielle Jin (pictured below), chief marketing officer at Visa Asia Pacific.

“Affluence used to be defined by possessions. Today, it is increasingly defined by the experiences that enrich their lives, reflect their values and express who they are,” Jin told MARKETING-INTERACTIVE.

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According to data from Visa, spending by affluent cardholders in Asia Pacific is increasing at nearly three times the rate of other cardholders, particularly across travel, entertainment and retail. Meanwhile, affluent households in the region are expected to grow at around 8% CAGR through 2030.

The shift is taking place alongside a significant generational transfer of wealth. Around US$83 trillion in private wealth is expected to change hands globally, with more than 40% of Asia Pacific families participating in that transfer, according to Visa.

For Jin, this means marketers need to look beyond how much consumers earn and understand what motivates the way they live and spend.

"In a region as diverse as APAC, wealth is only half the picture of affluence," she said, adding: 

It tells us who affluent consumers are, but not how they want to live and spend. That's a real blind spot for marketers today.

There is no single affluent consumer

Visa's “The changing face of Asia's affluent” research identifies four affluent mindsets: 'Pragmatic planners', 'Experiential seekers', 'Legacy stewards' and 'Global explorers'.

'Pragmatic planners' prioritise financial security, efficiency and long-term value, while 'Legacy stewards' are more focused on preserving and transferring wealth, supporting their families and creating an impact across generations.

'Experiential seekers', meanwhile, are more willing to spend on areas such as travel, dining, entertainment and lifestyle experiences, while 'Global explorers' have a more international outlook and value products and services that allow them to move easily across markets.

Among the four, Jin pointed to 'Experiential seekers' and 'Global explorers' as particularly indicative of changing attitudes towards affluence.

“These consumers want to experience something new, meaningful to them, not just to acquire new things – be it travelling to somewhere they've never been, sampling new cuisine, or venturing long distances just to catch their favourite artistes and athletes,” she said.

That desire for self-expression is appearing in less conventional categories too. Visa's research found toys and games account for more than 40% of affluent overseas spending, which it attributed in part to growing interest in collectibles and their perceived financial and social value.

Travel habits are changing alongside this. Around 90% of affluent travellers surveyed are looking for meaningful and health-focused experiences, while 84% expect more high-touch, curated journeys.

Jin said younger affluent travellers tend to prioritise experiences and adventures that allow them to disconnect from their everyday routines, while relaxation and family time remain more important among older travellers.

“Across Asia Pacific, affluence is also becoming personal and intentional. Consumers want to spend in ways that reflect their identities, passions and self-expression,” she added.

When premium perks become table stakes

Changing expectations also raise a question for brands: what does “premium” mean when many of its traditional signifiers are widely available?

According to Jin, established benefits such as lounge access, concierge services and upgrades remain important, but increasingly function as “table stakes”.

“What increasingly sets a premium brand apart is access that feels personal and difficult to replicate – experiencing a concert by their favourite artistes before anyone else, going beyond the restaurant menu to hear the stories and traditions behind the dishes they eat, or discovering a destination that has never shown up on others' social media feeds,” she said.

Visa describes its approach as “First, best, only”: providing access before others, delivering what it considers world-class experiences and creating experiences curated around individual consumers. Jin added that seamlessness itself is increasingly part of the premium proposition, particularly for consumers moving between markets.

“Perks are expected and can be purchased. What stands out is the ability to move effortlessly between borders, spend at a tap or wave of your hand no matter where you are, and access unique experiences that matter to you,” she said.

Visa has applied that thinking to its Visa Infinite platform, which offers cardholders benefits and experiences across areas such as travel, dining, entertainment and wellness.

Its initiatives include “Infinite tastes: Beyond the menu”, a chef-led programme offering experiences such as bespoke menus and interactive dining, as well as "Visa destinations", which recently launched in Thailand as its first Asia Pacific market and focuses on locally rooted travel experiences.

Visa has also been building its presence in entertainment through partnerships with artistes including Laufey, The Weeknd and Maroon 5.

Rather than attempting to manufacture cultural moments, Jin said Visa's approach is to identify areas where communities and interests are already developing.

“We don't want to 'create' culture. We want to show up where culture is organically thriving and sparking new forms of community and commerce,” she said.

Visa calls these areas its “Passion pillars”, which include music, gaming, sports and fashion.

One example was Visa's involvement with the 2025 MAMA Awards in Hong Kong. According to Visa presale data, around 90% of overseas ticket buyers had not visited the host city during the previous year, illustrating how fandom can translate into travel and spending beyond an event itself.

Premium doesn’t travel the same

For marketers operating across Asia Pacific, however, changing attitudes towards affluence are further complicated by significant differences between markets.

Visa's research found that luxury spending does not respond uniformly as incomes increase. Jin pointed to Thailand and Australia as an example, with Thai consumers on average spending more conservatively on luxury products than Australian consumers at higher income levels.

The difference highlights why income alone cannot necessarily predict how consumers will express their wealth, she said.

“For marketers, it means that one-size-fits-all playbooks will not translate well in a diverse Asia Pacific. Culture shapes affluence and a successful premium offering in one market may not resonate in another that interprets affluence and status differently,” Jin said, adding:

The most successful brands will be those that understand how affluent consumers express their aspirations in their markets.

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