Favourite grocery stores among U.S. wealthiest are Target, Walmart

The rich prefer Walmart for its groceries instead of Whole Foods?

Indeed, that's the surprising finding in a new study published by retail design firm King Retail Solutions together with the University of Arizona’s Terry J. Lundgren Center for Retailing.

After surveying more than 1,200 shoppers, researchers found that 77% of them purhchased groceries from a non-grocer in 2013.

Last year, 83% of those making more than $150,000 said they shopped for groceries at a big box store, convenience store or other non-traditional grocer.

What's more, this year, 96% of those surveyed said they’ll be buying groceries from places other than grocery stores.

And it wasn't just health conscious boomers, but millennials, Gen X as well, said researchers.

Along with Walmart and Target, consumers are getting their food from c-stores, dollar stores and pharmacy retailers, such as Walgreen.

READ: The full list of retailers' rankings here

What's causing this shift is the combination of price and convenience; quality was ranked third among consumers surveyed.

The study noted that it's not CPG goods that consumers are buying at non-grocers.

In fact, respondents ranked the two big box giants ahead of Safeway, Kroger, Whole Foods and Trader Joe’s as their favourite stores to buy fresh prepared meals, similar to what they'd find in a restaurant.

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