Marketers fear frugality is here to stay
Oh no! Is there fear of a frugal planet? Adage.com recently had an article detailing how Procter & Gamble, Whole Foods and Home Depot are concered that frugality may be the new norm. The retailers are concerned that America has forever altered its spending habits.
Hmm. I will say this recession has changed me forever. I think a lot of Americans will be a bit skittish about wanton spending. The last thing anyone should want to do is get jammed up again with credit card debt and bad mortgages.
Some new regulations that are out may help skirt another credit crisis, but it's still up to the consumers to handle their income responsibly. I think the smart retailers will learn how to give people products that they need and stop pushing crap that consumers don't need.
I think the next generation may not be so cautious but this one is rethinking a lot of finanical decisions they made over the last five or so years.
Is frugality here to stay? Do you think you will change your spending habits when the economy gets stronger? Do you think the big companies are being greedy?
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