On Monday, we started a biz poll that asked if you thought consumers’ new frugality is a permanent change?
48 percent said YES and 52 percent responded NO.
RedHotFranchises commented “We have just ended an era where people spent without actually having money to a point in time where people spend what they have. Its not the end of the age of consumerism—it is the beginning of more thoughtful approach to spending and what is value.”
Angela replied, “While a few people might have been swayed over to the frugal side for life, the reality is that it takes time and patience to scope out the best deals and clip coupons. Not everyone will want to continue doing that if they can afford to just go shopping without the extra work.”
“The economic crisis has brought a fundamental shift in consumer attitudes and behavior,” Wal Mart’s new CEO, Mike Duke, told investors and employees at the company’s annual shareholder meeting.”
“There’s a ‘new normal’ in which people want to save money,” Duke added.
Photo by some_bo.