The New Frugality: Americans return to thriftiness
Fearful that economic conditions could get worse and stay that way, Americans are showing an enthusiasm for thriftiness not seen in decades.
This behavioral shift isn't simply about spending less. The New Frugality emphasizes stretching every dollar. It means bypassing the fashion mall for the discount chain store, buying secondhand clothes and furniture, or trading down to store brands.
There's more business for repairmen and less for salesmen. Consumers are clipping more coupons and swiping their credit cards less....
Dr. Alan Cairns | 3/9/2009
