Shift in consumer spending poses challenge to retailers
A PricewaterhouseCoopers report found that 60% of consumers have reacted to the economic downturn by tightening their belts and trading down. The shift in spending habits, which has hit groceries and travel the hardest, has created a new challenge for retailers. "There has been a long-term shift," said Mark Hudson, retail and consumer leader at PwC. "A high proportion of grocery shoppers changed their spending through down-trading and switching, and for a significant number the switch is permanent."
Times (London), The | 30 Oct.
This story published in NRF Global SmartBrief on 10/30/2009
Report: Men more quickly shifted spending online than did women
Wednesday, August 12, 2009
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