So in yesterday's WWD, I noticed a charticle on spending habits that I found quite amusing. The piece shows a snapshot of the top, midtier and discount stores where consumers with annual incomes of $250,000 or more said they've been shopping. Interesting, right? Now, perhaps because I was an advertising, marketing and communications major I tend to take surveys like these with a grain of salt. I'm sure the sample was small, I know first-hand that folks say what they typically think others want to hear, etc. Still, the result of this research is pretty telling. See for yourself:
1 - Target, 46.2 percent
2 - Costco, 39.5 percent
3 - Macy's, 38.6 percent
4 - Nordstrom, 31.9 percent
5 - Wal-Mart, 25.9 percent
6 - Kohl's, 20.6 percent
7 - Bloomingdale's, 19.3 percent
8 - T.J. Maxx, 18.6 percent
9 - Sam's Club, 18.2 percent
10 - Neiman Marcus, 16.4 percent
11 - J.C. Penney, 14.2 percent
12 - Lord & Taylor, 12.5 percent
13 - Saks Fifth Avenue, 12.3 percent
14 - Dillard's, 11.5 percent
15 - Sears, 11.1 percent
16 - Barneys New York, 7.2 percent
17 - Kmart, 6.9 percent
18 - Bergdorf Goodman, 5.8 percent
Now keeping all things in perspective: is an annual personal income of $250,000 high? (in most parts of the country it certainly is), were most of the people surveyed married and/or have children, what part of the country was the survey conducted in...yada, ya... I still think it is safe to say that over half of the top 10 stores (including the number one spot) being discount retailers gives us a real window into the minds of those who what to make their dollar stretch. I happen to LOVE Target (where else can I get a mop, a scented candle, a dress and deodorant under one roof?) and make far less than 250K a year but I've long noticed that Target, Sam's Club, Costco, and T.J. Maxx stores are rarely ever in the neighborhoods that seem to need them the most. Hmmmm.
I'm clearly opening up a much bigger can of worms and I will certainly revisit this topic later. But, in the meantime I'd like to know of the stores listed above, where do you shop most and why? Leave me a comment and let me know.
Have a GREAT weekend everyone!
Btw, I thought that title would grab your attention. ;-) A whole 'notha can of worms is what constitutes someone being rich, right? All relative my friends, all relative. But do remember that the survey consisted of those with personal annual salaries of 250K or more, NOT household salaries of 250K or more. Huge difference.