Young rich investors use Deal sites like Groupon, study says


Young wealthy investors use deal apps like Groupon, and in fact use Groupon more than other online discount services like Living Social and, according to the latest Investor Pulse survey from  Spectrem Group’s Millionaire Corner.

The online survey of 1,200 investors showed that 64 percent of investors under age 40 use Groupon while 34 percent make use of Living Social.  Meanwhile, a minority, or 30 percent of young investors do not use any online discount services.

They’re not that popular with older investors over age 61, to no one’s surprise.  This group is  least likely to use online discount services, with 47% admitting to not using services like Groupon, Living Social,, Brad’s Deals, Daily Deal, Yipit and Woot.

The press release says two key findings from the Millionaire Corner, an independent online resource for investors and about investors, are (1) for all investors, Groupon is the most popular online discount service; and (2) female investors more so than male investors use deal apps and sites.

Okay, sure. We think the key lessons here for Start Up Founders and the Everyday man or woman who becomes wealthy are:

1. The fact that young investors use deal apps mean they at least recognize their worth and value; and that is a great thing to know if you’re pitching a commerce or deals app to an investor who happens to be younger than most.

2.  Young  people who were from low to middle income status all their lives and come into wealth via lottery,  success in business, becoming a celebrity or  professional athlete or inheritance should acknowledge that young investors who have wealth still seek out deals, remain frugal and keep pinching pennies.  These guys  know how to make wealth last and not squander it.

Take note!

Just another spin to consider on an otherwise illuminating survey!