Hardware Retailing The Industry's Source for Insights and Information
In its latest report, the American Affluence Research Center finds the country’s richest are looking forward to major home improvements, with the accompanying large furniture and durable good purchases that go with them in the months ahead, according to a MediaPost story.
This research also finds, as have past studies, “that most affluents still tend to live within their means, spending wisely. They aren’t the glittering rich—the Wall Streeters, entertainers, professional athletes or the 1-percenters who spend a lot on showy luxury brands,” American Affluence Research Center president Ron Kurtz said. “Their favorite places to shop, consistently, are those that provide strong value, like Costco, Target and the Home Depot.”
The twice-yearly survey is based on a sampling of 330 adults, in households with a net worth of at least $828,000, and an average net worth of $3.1 million.
