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Report: Wealthy Prefer Home Depot for Home Improvement Shopping

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.

 

About Amanda Bell

Amanda Bell was an assistant editor of Hardware Retailing and NRHA. Amanda regularly visited with home improvement retailers across the country and attended industry events and seminars. She earned a degree in magazine journalism from Ball State University and has received honors for her work for Hardware Retailing from the Association of Marketing and Communication Professionals.

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