On September 4, 2009
Wealthiest Consumers Not Ready To Spend
Affluent consumers aren’t happy and not likely to provide retailers with the kind of spending boost needed to help propel them out of the recession. According to a study by BIGresearch, consumers with household incomes of $100,000 and more, weighed by concerns about the ailing economy, healthcare reform and other uncertainties, are holding back on spending. In the study, 47 percent of households earning $100,000 to $149,000 report they are more practical in their purchases currently versus 39 percent last year, while 43 percent report they are more budget conscious versus 33 percent a year ago. This year, 21 percent of those households report they only buy clothes on sale, 29 percent are using coupons more and 23 percent are…
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