Filed under: Wal-Mart (WMT), Costco Wholesale (COST)

The Associated Press reports that a “Depression Era” mentality is taking hold among consumers. This matters to the overall economy since 70% of Gross Domestic Product (GDP) growth depends on consumer spending. Maybe this is good news because it will make people care more about spiritual matters, and less about material ones.

AP bolsters its consumer mentality shift with excerpts from a Nielsen survey that interviewed 50,000 consumers by e-mail during the first week of June. The survey found that

• 63% of consumers are cutting spending due to rising gas prices, up 18 percentage points from a year ago;
• 78% of consumers are combining shopping trips;
• 52% are eating out less often;
• Consumers are cutting more coupons;
• They do more of their shopping at super centers; and
• They buy less expensive brands.

Continue reading A “Depression Era” mentality takes hold of consumers

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This entry was posted on Monday, July 21st, 2008 at 12:15 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.