A majority of well-heeled shoppers rely on the Internet to research products prior to purchase, finds a new survey, and many buy online, as well.

According to a recent study by New York-based Luxury Institute, 51 percent of wealthy consumers say they use the Internet to research products and services, while 43 percent report actually buying products and services online, whether they have occasional or frequent online buying patterns.

Younger consumers—particularly those with higher incomes and net worth—show a stronger tendency to buy online, the survey reports.

Apparel and accessories sales on the Web rose 41 percent in 2005, according to the Luxury Institute, while sales of jewelry and watches surged 31 percent. The average wealthy American uses the Internet seven days a week for an average of 3.2 hours per day, while those worth more than $5 million and who are under age 50 show the heaviest use, the institute finds.


Source : nationaljeweler.com

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