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Where Shoppers are Spending Their Money These Days

Where Shoppers Are Spending Their Money These Days

The recession has caused most all of us to reevaluate the way we shop, and people are looking for value in their purchases more than ever. Companies like Wal-Mart, Costco, and McDonald's have been more successful in the down economy due to their reputations as discount spots, but designer jeans, high-definition TVs, and iPhones haven't performed too shabbily themselves.

What gives? Shoppers see them as affordable luxuries that have extended value over expenses like vacations that don't come with material evidence. Find out where shoppers are holding back when you

.

A recent survey by the marketing firm GfK Custom Research asked 2,000 Americans which expenses would be the first to go if they needed to cut back, and the results were pretty much what you would expect. Here's more:

  • Eighty-two percent would give up dining out.
  • Respondents said they'd cut back on entertainment like sporting events as a cost-saving measure.
  • The majority of participants said a personal clothes budget isn't a necessity.
  • The survey found that most people would cut back on expensive groceries to save money.

Source

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Join The Conversation
tiff58 tiff58 6 years
I actually think that the only place that I shop now is Costco.
CoralAmber CoralAmber 6 years
I got a low end HD TV from Target and it was the best purchase. It makes me happy every day just to have a clear picture and quality sound (my last tv was 15 years old though). Other than that I've been renting more movies instead of going to the theater and got my hair cut at a cheaper salon.
margokhal margokhal 6 years
"...but designer jeans, high-definition TVs, and iPhones haven't performed too shabbily themselves." WHAT. Where are people getting the money for that stuff? "Sure, I'll cut back on food, but I can't possibly NOT pay $100/mo to use an iPhone!" Everyone has different priorities, I know, I know...but if you're wondering why you're broke, and you've STILL got these things - it doesn't take a rocket scientist! @_@
Spectra Spectra 6 years
I'm surprised salon visits aren't on there. That's one area I've definitely cut back on. I do my own manis/pedis and I do my own highlights to save money. I've also cut way down on clothes as well. I like to shop in my closet and rediscover things I haven't worn in a while and find ways to make them look new. Every time I do that, my husband asks me if I bought a new outfit, LOL.
Smacks83 Smacks83 6 years
Savvy, that does make more sense, lol! I was wondering how people would be considering not eating out, but not conisder a budget,ha.
snarkypants snarkypants 6 years
funny, when times are tough, i'd rather go on vacation than buy a bunch of stuff. at least i'll be able to keep the memories longer than the clothes. :)
Smart-Living Smart-Living 6 years
smacks83- that should have read "personal clothes budget", not "spending." Makes a little more sense!
Smacks83 Smacks83 6 years
"The majority of participants said a personal spending budget isn't a necessity" Um, maybe if it was you wouldn't always have to be cutting out all the dining out and such. Just a thought,lol.
lilkimbo lilkimbo 6 years
Interestingly, studies repeatedly show that those who spend their money on experiences, like those expensive vacations, are happier than those who spend their money on goods.
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