HIGHER-INCOME SHOPPERS OFTEN LOOK FOR BARGAINS.

Higher-income shoppers may be bigger bargain hunters for some products than lower-income consumers are, says Robert Leone, professor of marketing, Ohio State University, Columbus. The results of a study suggest higher-income consumers are more likely to take advantage of bargain prices on certain products by stocking up and buying less of these goods when prices rise. Lower-income consumers may be less able to take advantage of discounts.

Researchers examined liquor sales in 35 different retail stores during a four-year period. They found that, when prices dropped for specific liquor brands, sales of those brands increased more in stores serving high-income customers.

"High-income people have the cash available to buy more when prices are low or buy a more expensive brand that is on sale," Leone explains. "If you're on a limited income, you may not be able to afford to purchase more than what you need for the immediate future. Because lower-income consumers have less buying power...