Want to Spot Rich People? Head to Walmart

Why wealthy shoppers are slumming it

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It’s a statistical fact that wealthy shoppers rave about the pampering they receive at upscale retailers like Neiman Marcus, Lord & Taylor and Barneys. But here’s a question to ponder: How often do wealthy shoppers actually shop in those stores?

Turns out, not a whole lot—or so a new survey from Millionaire Corner suggests. The wealth management news site recently polled 1,200 investors, asking them where they drop coin. 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.

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