Americans ready to shop, but not for home
May 20, 2009,
New York -- Shoppers are ready to splurge again, but selectively, according to WSL Strategy Retail.
Food and health and beauty items are among the top categories shoppers want to start spending some coin, according to WSL. Categories in which they plan to continue to restrain purchases include home products, eating out, concerts and movies, fashion accessories and magazines.
The retail consultancy has identified five key strategies consumers are employing to curtail spending: use up what’s on hand; use less; shop the lowest price; buy store brands; and trade down.
“We found that 2/5ths of shoppers will pay more for the brand they trust rather than take the risk of a cheaper brand,” said Candace Corlett, president of WSL. “This is the first time in nearly four years that we see some good news, albeit just a glimmer -- a sign that the next iteration of a new shopping cycle is beginning.”
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...