More low income earners buying iPhones
Low incomes aren’t deterring iPhone buyers, with more low wage earners defecting to the iPhone camp. The data on the increase of lower-income U.S. consumers buying iPhones comes from surveys by research company ComScore Mobile.
According to PCWorld, ComScore held surveys in August, and found that iPhone purchases grew fastest in groups of people earning between $25,000 and $50,000. There was only a 16 percent growth rate among people earning above $100,000 compared to a whopping 48 percent of the lower income group. ComScore uses a sample of more than 33,000 users in its studies, typically.
Despite the perceived growth rate, lower-income earners only make up 15 percent of iPhone buyers. Most of iPhone’s customers are still affluent males between 18 and 35, said ComScore. But with more of the lower-income group showing willingness to pay $199 for an iPhone and the required $70 per month or so for data charges, ComScore Mobile analyst Jen Wu says it suggests that smartphones are becoming a mainstream product.
“Although it’s not shifting the iPhone audience all that much, it is still indicating a larger trend that we might be seeing more of in the future,” said Wu said. The shift was more noticeable after the iPhone 3G dropped with its higher data speeds, the App Store as well as the lower price.
Wu said that the iPhone might also appeal for its versatility – with multiple functions, consumers can do more for their money than with single-purpose products. “People have started to see that it’s worth the cost,” said Wu. Wu expects that the current economic downturn won’t make much of a dent in the trend as wireless devices are much more of a necessity than they used to be. The survey also showed a growth in the user group making between $50,000 and $75,000 per year, and among people older than 45.
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