Wednesday, February 21, 2007

Where rich consumers shop?

Did you know that rich consumers prefer discount warehouses for their shopping? A new study by the Nielsen Company found that although these consumers can afford to buy items at higher priced stores, the lure of good deals pulls them in. Households of annual incomes of more than $100,000 usually shop at discount warehouses such as Costo and Sam's Club and high end mass merchandisers like Target retail stores. These consumers generally prefer national and higher-end grocery chains that have a larger selection of fresh items, especially those that have good produce, meat, poultry, seafood, deli and alcoholic beverage sections.
"Strong fresh food sections act like a magnet for affluent shoppers who make 56 percent more trips to purchase fresh produce, but the quality and selection have got to be there," Hale said.

While the affluent shop all the mainstream retail channels, they are more than twice as likely to patronize a warehouse club store, and nine percent more likely to frequent a mass merchandiser when compared with households who earn $20,000 or less, according to the research.

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