Getting frugal
Full of Doubts, U.S. Shoppers Cut Spending
Excerpt:
In response to the falling value of their homes and high gasoline prices, Americans have become more frugal all year. But in recent weeks, as the financial crisis reverberated from Wall Street to Washington, consumers appear to have cut back sharply. Even with the government beginning a giant bailout of the financial system, their confidence may have been too shaken for them to resume their free-spending ways any time soon.
Recent figures from companies, and interviews across the country, show that automobile sales are plummeting, airline traffic is dropping, restaurant chains are struggling to fill tables, customers are sparse in stores.
Comment: "Frugal" is a good word! "Savings" is another!
Stores are reacting: I've been in a few stores lately that have had lowered their prices. They weren't having sales, the prices were actually lowered.
ReplyDeleteGenerally good for my company since during times like this more people eat at home.
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