Study: Shoppers are done with excess
February 13, 2004,
New York — Shoppers have returned to the stores — but they're shopping with a new set of priorities, according to a report from WSL Strategic Retail.
How America Shops 2004 found that consumers are spending more on education, savings/investments and shopping. However, they are spending less on leisure travel, entertainment and themselves. Products considered essentials are pet supplies, food, hair care, prescription drugs and clothing. Less essential goods include computers/software, home decorating, perfume/fragranced body, cosmetics and fashion accessories.
"Prudent spending is indispensable in this 'new normal,'" the report concluded. "It's about making choices, recognizing they cannot have it all, and so 'pushing back.'"
Channels on the rise include supercenters, dollar stores, warehouse clubs and the Internet. The survey found that 63 percent of women had shopped a supercenter in the last 90 days, 62 percent had shopped at dollar stores, and 52 percent had shopped warehouse clubs. The number of women who shop on the Internet every week jumped to 13 percent from 5 percent in 2002.
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