Luxury Institute News

April 6, 2012

Make Purchases From Our iPhones? We’d Rather Not, Say the Wealthy

By Lauren Covello
FOXBusiness
April 5, 2012

It’s often said that the rich have the world at their fingertips.

When it comes to shopping, however, it seems they prefer to use their legs.

Sixty percent of wealthy smartphone owners say they rarely or never shop on their mobile phones, according to a new survey released by independent research firm The Luxury Institute. The survey polled individuals who earn $150,000 or more a year and reported an average net worth of $2.8 million.

While the respondents cited several reasons for not indulging in mobile shopping, the biggest reason by far was a preference for the in-store shopping experience. Fifty-one percent said they prefer to touch and feel the products they’re buying than swipe through products on their smartphones.

“They love the in-store experience; some even see it as entertainment,” says Milton Pedraza, CEO of the Luxury Institute…

Click the link to read the entire article which includes additional quotes from Milton Pedraza, CEO of Luxury Institute: http://www.foxbusiness.com/personal-finance/2012/04/05/make-purchases-from-our-iphones-wed-rather-not-say-wealthy/

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