The Great Recession is officially over, but the good old days of conspicuous consumption -- maxing out credit cards and buying homes with no money down or proof of income -- are long gone. In fact, it seems that if there's any good to come of all the pain and suffering over these last few years, it is that Americans are now actually learning to live within their means.
The Daily Ticker's Aaron Task and Henry Blodget discuss in the accompanying clip, with unemployment above 9% and the economy in stall speed, consumers have learned their lesson. Frugality appears to be a lasting trend.
As highlighted in the Wall Street Journal, more consumers are buying generic brands and making their purchases at big box stores.
Here are more facts on these consumer trends based on two recent surveys:
- 75% of consumers shop with lists, compared with 45% in 2008.
- 20% of grocery sales are private brands, up 15% prior to the recession
- 44% of Americans are shopping more at bulk stores
- 72% of consumers say