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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCustomer Frugality Shows in Latest Study
JACKSONVILLE, Fla. Shoppers are clinging to frugal shopping habits, according to a new study from AMG Strategic Advisors here.
Among the findings from AMGs new trade promotion study, A Shift in the Lift: A Study of Key Factors Influencing Trade Promotion, found that 67% of shoppers said they are buying less and sticking to a budget.
In addition, 54% said they are buying fewer items on impulse, 59% said more than half of their grocery purchases are bought on deal, and 65% said they expect certain items to be on sale and will wait for a sale to purchase them.
Read More: http://supermarketnews.com/marketing/customer-frugality-shows-latest-amg-study#ixzz2It31Nl4Q
Fumesucker
(45,851 posts)Killing the goose that laid the golden eggs they are.
Sherman A1
(38,958 posts)reporting trends and a trend that in this case does not seem to be changing for those included in the report.
Fumesucker
(45,851 posts)Lower salaries, fewer benefits, no pensions and so on, in a word austerity.
Habits are hard to break once established and frugality is a habit as much as anything else.
Ineeda
(3,626 posts)folks never really lost their mindset. And much of it rubbed off on their children, the boomers. Today's frugality, though generally not as profoundly widespread, will also have lasting effects, IMO. Yes, once you've learned the habit, it's hard to break and that's a good thing.
marions ghost
(19,841 posts)Austerity -----> Frugality
And then the companies whine about lower than expected sales...
KarenS
(4,024 posts)Fear is a hugely motivating factor for folks. I think at this point most of us know people that have lost their jobs and are now underemployed or unemployed or we are underemployed/unemployed,,,,
In our household, we have changed our buying/spending/saving habits across the board.
This will resonate for multiple generations and Corporate Greed brought it all on.
Corporate greed is the underlying cause here, no doubt. That said, frugality is one would think a good thing, unless you are part of one of those Corporations trying to sell an endless stream of unneeded stuff to consumers.
quaker bill
(8,223 posts)I have also seen it beginning to dissolve. I run a very small business making and selling art jewelry. I got started a year before the bubble popped.
In that first year I was clearly selling to folks on impulse, largely on credit. I am still selling, but not as fast and vastly more for cash. After the election I saw a brief return of impulse credit buys, and I will see if the trend holds in a few weeks in my first 2013 show.
I went from the pre-recession 5% cash to a maximum of 75% cash sales in 2008, which has steadily declined to roughly 20% cash sales on average in 2012, with the post election shows dropping back to below 10%. (both an increase in sales and an increased use of credit to fund it)
What I will say is true is that more people are more often coming up with a plan and sticking with it. Some have been using a wad of cash to create a budget. They bring a wad and when they spend it, they are done. These folks can fall in love with a piece, but if the wad they have does not cover it, they will not pull the plastic out. Others, who are perhaps better off financially (looking at how they are dressed) come with credit and are now using it like it was 2006 again.
I like doing shows. You sit in one place for a weekend and watch 50,000 people walk past. Sometimes you get a grip on what is going on out there. One thing I have learned as a hard fact is that you don't do shows that are promoted on Fox TV stations, because you can see a big crowd, but there is just no money in their pockets. Even the guys selling the hot dogs have a hard time making expenses at a Fox TV promoted show.
Sherman A1
(38,958 posts)It is snap shots like yours that are in my opinion just as, if not more valuable as these studies in giving us a sense of what is really happening out there.
tblue37
(64,982 posts)your wares--if you make them. My 31-year-old daughter is hard to buy gifts for, but she does enjoy beautiful jewelry, but prefers stuff designed and made by truly creative people. I am always looking for sources for gifts for her.
hatrack
(59,442 posts)marions ghost
(19,841 posts)seem to be selling well....
liberal_at_heart
(12,081 posts)I just started up again. There is just something fun about knowing you are getting the food you need to feed your family at a discounted price and knowing those savings can go towards other bills. It's just very satisfying.