High-Income Shoppers Slashed Spending Most Over The Holidays

Hitwise has just released a brief report examining the spending habits for web users over the holiday season. The study found that the biggest drop off in traffic was among
shoppers that fell under the ‘high-income’ demographic,
which is classified as households earning more than $150,000 per year.
Traffic from these upper-class buyers dropped 12.33% comparing December
2007 to December 2008, versus a drop of around 1% for those making less
than $30,000 a year and an increase in traffic from everyone
else. The report doesn’t make any guesses as to why this happened
(perhaps the more wealthy users were losing more money in the stock
market?), but it’s an interesting trend nonetheless.

Article Link (TechChrunch)