True, investors tend to prefer blue, but they fall all along the spectrum when asked to identify their favorite color. Learn more.
Roughly two-in-four affluent investors prefer blue, but the rest fall all along the spectrum when it comes to naming their favorite color, according to a recent survey from Spectrem’s Millionaire Corner.
Color has a powerful effect on human behavior and is used to create calming, inspiring and stimulating environments. “Market researchers have also determined that color affects shopping habits,” according to Keysteps Internet Marketing. “Impulse shoppers respond best to red-orange, black and royal blue. Shoppers who plan and stick to budgets respond best to pink, teal, light blue and navy.”
Colors are also associated with personality types and character traits. Here’s a closer look at color preferences among affluent investors surveyed in March, and what a favorite color might say about a person:
· Blue stands for depth and stability, and symbolizes trust, loyalty, wisdom, faith and heaven, according to Color Wheel Pro. While not everyone’s favorite, blue is picked by 44 percent affluent investors. Preference for blue is highest among investors from the occupational category of senior corporate executive (58 percent) and men (53 percent).
· Green symbolizes nature, growth, harmony, freshness and peace, says Color Wheel Pro. Sixteen percent of investors overall say green is their favorite color. Senior corporate executives and the youngest investors – those ages 40 and under – express the strongest preference for green (24 percent and 19 percent, respectively).
· Red evokes strong emotional reactions and is associated with energy, war, danger, strength, power and passion. The color is the favorite of 11 percent of investors, but investors with the highest net worth and incomes are even more likely to pick red. Eighteen percent of high net worth investors – those with investable assets of $5 million up to $25 million – prefer red to all other colors, as do 15 percent of investors with an annual income of $200,000 or more. Learn more about the “color of money” by clicking here.
· Purple connotes royalty, spirituality and dignity. Nine percent of investors overall like purple best. Women are most likely to say purple is their favorite color (17 percent). Investors who describe themselves as having little or no investment knowledge – and who coincidentally tend to be women – also express a relatively high preference for purple (15 percent). Lean more about the confidence gap between men vs. women investors by clicking here.
· Black – the color of power, elegance, formality, death and mystery – is the top pick of close to 5 percent of affluent investors. Those in their 40s tend to like it best (8 percent).
· Pink is associated with nurturing, security, softness and sweetness. Only 3 percent of investors say they like pink best, but the share rises to 8 percent among women investors.
· Orange and Yellow: Who likes orange and yellow best? Hardly anybody. Warm and cheerful yellow is the favorite of 4 percent of investors, and vibrant and playful orange is preferred by 3 percent.
· Grey, Brown and White are even less popular that yellow and orange. Less than 2 percent of investors overall identify the shades as their favorite colors.