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Costco tops grocery list for higher-income Americans, survey finds
Fox News • • business
Key Points:
- A YouGov survey found that 11% of Americans earning $150,000 or more primarily shop for groceries at Costco, making it the top choice among higher-income households despite its membership fee.
- Higher-income households (earning at least $150,000 annually) tend to spend more on groceries, with 51% spending over $150 weekly, compared to 28% among middle- and lower-income groups.
- Walmart Supercenter is the most popular grocery store for middle- and lower-income Americans, favored by 20% of respondents, while only 5% of this group prefer Costco.
- Food industry analyst Phil Lempert noted that wealthier households often shop at Costco due to its bulk sizes and value, contradicting the perception that they mainly shop at upscale stores like Whole Foods.
- Lempert advised shoppers to be frugal by shopping with lists, comparing prices between specialty and regular aisles, and using online ordering with in-store pickup to save money.
