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Less than one fifth of consumers making less than $31,000 per year felt that the marketing they see from brands is personalized to them, compared to around half of people in top income brackets of $188,000 or more.
That was the finding of a new survey from marketing personalization platform Formation.ai, which asked some 2,000 U.S. consumers about brand loyalty and the quality of tailored marketing they receive. While lower income consumers have less disposable income, the report contends that they still spend an average of 40% of their budget on what economists consider luxury products and services.