Is going cheap the new chic?

Thursday, 06. 18. 2009  –  Category: Enversa Companies

The recent recession being touted as one of the longest and deepest in US history is supposed to have a dramatic effect in altering consumer spending habits. Economists and marketers are concerned that consumer spending habits will have changed and that the tightening of the purse strings will continue long after the recession has ended and the economy is recovering. They are saying goodbye to five dollar lattes and high-end luxury items, and predicting a new wave of frugality.

Are they wrong? Consumer spending has changed and over 60% of households have done some belt tightening and examined where their monthly budget is spent. But predicting future spending habits is akin to forecasting the weather; it’s a form of fortune telling that gives anyone a fifty/fifty…