June 4, 2009 —Forbes.com, "Retailers' May Misery"
Some industry followers see rays of hope on the horizon. Consumers aren't actively seeking deals before buying as often as they were last summer, according to the latest survey from Retail Forward, a consultancy and market research firm specializing in retail strategies. When asked in May how much the economic environment has changed their shopping patterns, only 27% said it's changed their behavior "significantly," down from 34% who said so last August. "Fewer people are seeking deals, trading down or limiting [their purchases], which is a good sign," says Frank Badillo, a Retail Forward economist.
June 1, 2009 —Advertising Age, "Marketers Fear Frugality May Just Be Here to Stay"
Somewhere between a third and half of consumers expect to stick with various money-saving strategies even after the recession ends, according to big monthly tracking surveys by Retail Forward, the retail-consulting firm. "There already was the coalescing of a trend to think about simplifying lifestyles," said Retail Forward senior VP Mary Brett Whitfield. "It was tied into more environmentally friendly consumption patterns, but they were already thinking about consuming less or becoming more conscious when they did consume."
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