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You won't find older rich folks elbowing you in aisle 3 on Thanksgiving

By NexChange
Wealth Management


Thanksgiving weekend shopping is a sport for the young and the affluent -- but not the super wealthy.  Spectrem Group reports from a survey it took of  the high net worth crowd that nine out of ten would not be shopping on Thanksgiving at all. Certain segments just can't resist a bargain:

Analysis by net worth and age finds less wealthy and younger Affluent respondents are most likely tear themselves away from the Thanksgiving table to hit the malls. Respondents with less than $100,000 are slightly more likely than their wealthier counterparts to take advantage of Thanksgiving store hours (17 percent vs. 6 percent of those with between $500,000-$1 million and $1 million-$5 million each, and 9 percent of Ultra High Net Worth households with at least $5 million net worth).

Younger Affluent respondents, too, are more likely than older respondents to shop on Thanksgiving (roughly 20 percent of the under 40 crowd and those ages 41-50 compared with 10 percent of Baby Boomers ages 51-60 and 4 percent of those ages 61 and up).

Photo: Andy Wilson

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