Consumers Restrain Spending; Recessionary Mindset Lingers

[Sherman A1]

The effects of the recession and curbing retail spending are still top of mind for many cash-strapped Americans, according to the results of a Nielsen survey.

“Spending setbacks for many Americans translated to weaker-than-expected holiday sales at retail,” said James Russo, SVP, Global Consumer Insights, Nielsen. “Online intentions during the holiday season, however, fared better, as 46 percent said they shopped on Cyber Monday, an increase from 30 percent last year. As we enter 2014, the U.S. consumer remains bifurcated, cautious and pragmatic.”

Although U.S. consumer confidence declined four index points in the fourth quarter of 2013, it was up five points from the same period last year, according to the survey.

Q4 also saw a decline in discretionary spending from Q3 for buying new clothes (24 percent) and paying off debts, credit cards and loans (31 percent).

Compared to Q3, spending on home improvements (19 percent) and out-of-home entertainment (18 percent) also saw 5-percent and 6-percent decreases, respectively. Meanwhile, stashing cash into savings (39 percent) decreased four percentage points and buying new technology (17 percent), also saw a four-point decline.

http://www.progressivegrocer.com/top-stories/headlines/market-trends/id41012/consumers-restrain-spending-recessionary-mindset-lingers/

[pansypoo53219]

1. i have been going to estate sales many years + saw how people reacted from the depression.

we are getting the same reaction i am sure. sadly they are disappearing + i love theirs the most. time travel.

[KurtNYC]

2. "mindset" ?! It is all in our minds? We should just get over it and go back to the credit cards?

This is what I call 'disconnect the dots journalism.' They look at effect but not the cause.

What if our economy was NOT based on endlessly buying the same stuff over and over?

[snot]

5. Yeah, we just can't seem to psyche ourselves out of

eviscerated life savings, foreclosures, and joblessness.

Call me when our incomes have recovered from their 100% drop.

[Ian_rd]

3. How crazy it is ...

that we as human beings have ended up with an economic system that depends on consuming more than we need in a wasteful and destructive manner.

I wonder if we even have much choice in the matter. Perhaps we're just executing our genetic programming to consume, multiply, consume, and multiply.

Up close, we are independent and individual intelligences who practice free will. But if there are aliens far away looking at us through telescopes, the undeniable pattern of our species would be undeniable. Like unthinking ants or viruses, we're simply doing what we're programmed to do.

[hollysmom]

4. Refrain from buying or can't get out from under the ice and snow?

I have not left my house in almost a month. I am running out of food, My older neighbors moved away, the new ones are idiots. We used to get together and dig the older people out, now I am an older person and no one helps me.