Blog # 6: Change in Consumer Spending

The article of discussion is titled: The Great Escape- Consumer Style
Found on WWD. http://www.wwd.com/business-news/the-great-escape-consumer-style-2073438

This article discusses the changes that many consumers are making in reference to the economy. Box office sales are at their highest since the holidays and fast food restaurants are being known as "simple pleasures." As the trend of luxury and moderate stores take a big hit with the economy and lack of consumer purchases, chocolate, quarter-pounders and gym memberships are increasing. Consumers are escaping to the movies and in search of comfort foods. According to executive vice president of Strategic Initiatives at BIGresearch, "Consumers of all ages and income levels are being bombarded with so much change in the economy, gas prices, etc, that they feel out of control, not in charge of their loves. They will be drawn into more of those things that they can be in charge of."

Consumers are dumping unnecessary utilities in their households, s. a cable TV and land line phones. The Internet has however remained in many households because of the ability to do job searches and stay connected to the world. The idea of "bargain shopping" has become a new trend and people are more accepting to buying items at a discount. It is becoming popular to hear people brag about how little they spent on an item they purchased, whereas in the past, people were more prone to brag of how much they paid for items.

In spite of the downward falling economy, consumers are finding alternatives to keep themselves afloat. Renting a movie, going to an afternoon movie, grabbing dinner at the nearest McDonald's, or visiting the gym are allowing consumers to stay optimistic about the outcome of the current economic crisis.