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Consumers Adjusting SpendingConsumers Adjusting Spending

February 10, 2010

1 Min Read
Consumers Adjusting Spending

NEW YORKAmericans are adjusting their buying habits during the recession with nearly two-thirds purchasing essentials and nearly half buying few things and shopping less often, according to the Consumer Spending Update: Mid-2009 report.

Among the reports findings:

Gen Y shoppers are more likely than shoppers overall to buy less-expensive versions of products they use but less likely than shoppers overall to continue that behavior when the economy improves.

Brand loyalty has diminished in the recession, but is still strong for toiletries, skincare products and vitamins. Brand loyalty also has increased for beer, wine and liquor. Meanwhile, the appeal of private labels is increasing, with roughly two thirds of consumers believing store brands are good value for the money.

Consumers are still willing to spend more for certain green features, including recycled paper products, and environmentally-friendly household cleaning products and laundry detergents.

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