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The rich shop at Costco

By Judy Martel · Bankrate.com
Wednesday, July 16, 2014
Posted: 7 am ET

You might envision them stepping out of their Bentleys in front of Tiffany or picking up a nice little Renoir at Sotheby's, but in reality, the rich are more likely to be racing you for the better spot in line at the discount retail emporium Costco.

Who doesn't love a bargain?

A quarter of the affluent in a recent survey by Spectrem's Millionaire Corner say they spent the most money at Costco, excluding groceries, over the past 12 months.

Costco is particularly popular with the under-40 set, with 27 percent of that age group reporting that they spent the most money there.

Interestingly, more men than women spent the most at Costco, perhaps due to its robust offerings -- everything from treadmills to tires for the car, along with big-screen TVs and giant-sized containers of barbecue sauce and mayonnaise.

The second-highest percentage (15 percent) of respondents say they spent the most money at another discount retailer, Walmart. Home improvement store Home Depot claimed 14 percent, while 11 percent shopped at its competitor, Lowe's.

Stores don't leave anything to chance when it comes to obtaining your cash. Learn seven shopping secrets retailers won't tell you.

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