Very few wealthy consumers buy from the best products available in every category. Instead, they trade up and down in the spending categories that are more or less important to them.
Of these categories, food is typically the area where most of the wealthy will always trade up, to ensure they buy the best.
Your article on Waitrose’s positioning (MW March 16) has been borne out by our research too: for those earning more than &£100,000 a year, Waitrose is their favourite brand. In fact, it is twice as popular as either Tesco or Sainsbury’s, with 43% picking Waitrose while 22% chose Tesco and 20% Sainsbury’s.
These findings are from Ledbury’s High Earners Research (500 UK consumers with incomes of over &£100,000, representing the top 1% of UK earners).
James Lawson CFA
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