News Brief
Luxury Shoppers Migrate Toward The Web
Jul 21, 2008, 6:46 AM
Maybe it's getting a little embarrassing to price high-end watches at the store, when you suspect your fellow shoppers may be headed for foreclosure. Or maybe it's just easier.
Either way, a new poll from the Luxury Institute finds that Americans with annual incomes of at least $150,000 are more likely to research luxury purchases on the Web.
Some 64% of these affluents say they go directly to company websites for information on luxury goods and services. The Internet rates more highly than recommendations from friends and family, which guides 57% of these shoppers. And 38% say they prefer search engines. The average household income in the survey is $287,000, with an average net-worth of $2.9 million.
--Sarah Mahoney
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