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Recession Frugality May Become Ingrained, Pundits Say

June 1, 2009: 09:19 AM EST
Frugality may be here to stay, according to a number of commentators. The view is backed by research: between one third and one half of consumers say they will continue their money-saving strategies even after the recession ends, according to retail consulting firm Retail Forward. Consumers were beginning to place more emphasis on value and relationships before the recession hit, and this will continue, as will the desire to “do good” with purchases, for example by buying “environmentally friendly” products. Heavy discounts are here to stay, say some retailers, including Home Depot. Some voices, however, say that people adapt quickly, and will return to pre-recession habits as the economy improves.
Nat Ives, "Marketers Fear Frugality May Just Be Here to Stay_06-01-09", AdAge.com, June 01, 2009, © Crain Communications
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