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Shopping in US Looks Like the 1970s: Analyst
Automotive industry, discounters predict permanent shift
By Caroline Zimmerman
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Posted Jul 20, 08 8:01 PM CDT
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(Newser)
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Retailers and marketers are closely watching American shopping trends, knowing that recession habits can linger for years, the AP reports. Studies show that 63% of Americans have cut down spending by coupon-cutting, biking to work, and buying store brands. They're also buying smaller cars and shopping at discounters. "We are looking at stuff that reminds me of the 1970s," one investment manager said.
According to the latest US shopping stats:
- 78% of Americans are combing shopping trips.
- 52% eat out less often.
- Sales at discounters spiked 5.1% and 9% at wholesalers last month.
- Sales slumped at department stores by 4.1% in the same study.
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