Consumer spending unchanging with the times
As the economy improves, a majority of Americans are not returning to their pre-recession ways, according to Deloitte’s 2013 American Pantry Study. In fact, 94 percent of respondents said they plan to remain cautious and keep their spending for food, beverage and household goods at its current level. Additonally, 72 percent noted that even though they are spending less on household and grocery items, it doesn’t feel like they are sacrificing much. This is a 7 percentage point increase in two years, the study reports. Furthermore, 88 percent of survey respondents reported that they have found several store brands that they feel are just as good as national brands; only 27 percent plan to switch back to national brands as the economy rebounds, it states.