Monday, October 20, 2008

Time Is Money: Wealthy Drop Dollars Online

Google Study Finds Millionaires Prefer Efficiency of Web Shopping to Bricks-and-Mortar Stores for Luxury Purchases

The internet is a shopping destination of choice for the rich -- and the one most preferred by the very rich, according to a study from Google. The study, which looked at wealthy shoppers ages 25 to 64, bucks the conventional wisdom that luxury shoppers prefer the in-store experience. It finds that while both segments shop online, millionaires vastly prefer online shopping to in-store and are much more likely to use the internet than their not-quite-as-wealthy brethren.

In all, 95% of the 263 millionaires surveyed made their last luxury purchase online. Read More >>>

Source: Ad Age

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