photo credit: Darwin Bell
STORES Magazine has just published an interesting article based on research by BIGresearch that details just which product and services consumers can’t live without as they tighten their belts and which are expendable. Here are the top 10 things that the research indicates that people will continue to pay for even as they give up other luxuries:
- Internet service
- Cell phone service
- Cable or satellite TV
- Discount shopping for apparel
- Hair cuts and color
- Fast food restaurants
- Casual sit-down restaurants
- Charitable giving
- Vacations
- Fast-casual restaurants
Phil Rist, vice president of strategy for BIGresearch, said that the research also indicates that consumers are going to be shopping online more:
Amazon.com reported its best holiday [season] ever, in part because people were looking for deals, They didn’t want to spend money on gas or be tempted by promotions at the mall, so they sat at home, did their shopping, got some great deals and – in many instances – didn’t pay sales tax.