|
"A comprehensive, collaborative elections resource."
|
Recession Diet Just One Way to Tighten Belt
|
Parent(s) |
Issue
|
Contributor | Servo |
Last Edited | Servo May 01, 2008 11:54am |
Logged |
1
[Older]
|
Category | News |
News Date | Sunday, April 27, 2008 05:00:00 PM UTC0:0 |
Description | Stung by rising gasoline and food prices, Americans are finding creative ways to cut costs on routine items like groceries and clothing, forcing retailers, restaurants and manufacturers to decode the tastes of a suddenly thrifty public.
Spending data and interviews around the country show that middle- and working-class consumers are starting to switch from name brands to cheaper alternatives, to eat in instead of dining out and to fly at unusual hours to shave dollars off airfares.
Though seemingly small, the daily trade-offs they are making — more pasta and less red meat, more video rentals and fewer movie tickets — amount to an important shift in consumer behavior.
Burt Flickinger, a longtime retail consultant, said the last time he saw such significant changes in consumer buying patterns was the late 1970s, when runaway inflation prompted Americans to “switch from red meat to pork to poultry to pasta — then to peanut butter and jelly.”
“It hasn’t gotten to human food mixed with pet food yet,” he said, “but it is certainly headed in that direction.” |
Share |
|
2¢
|
|
Article | Read Full Article |
|
Date |
Category |
Headline |
Article |
Contributor |
|
|