retail news in context, analysis with attitude

Ad Week reports on a study by an organization called Millionaire Corner revealing that "among respondents with a net worth of $5 million or higher, the top retail destinations were Home Depot, Lowe’s and Target - with 61, 44 and 41 percent reporting, respectively, that they like to shop there. Nearly half the well-heeled respondents also said they liked to shop at Costco, and a full third admitted to setting foot in Walmart."

Furthermore, "Millionaire Corner’s survey found that Lord & Taylor (part of Hudson’s Bay Company, which also owns Saks) was a regular destination for just 3 percent of multimillionaire respondents. Neiman Marcus, with 8 percent, didn’t fare much better."

The conclusion: one of the reasons that rich people get rich is by being frugal, and that doesn't necessarily change once they get really rich.
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