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Great Recession is over, but new shopping habits are here to stay

Great Recession is over, but new shopping habits are here to stay
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POSTED: Monday, April 29, 2013 - 8:00am

UPDATED: Wednesday, May 1, 2013 - 9:16am

There's new evidence that suggests most consumers remain thrifty and cost-conscious even though they're better off since the end of the Great Recession.

Deloitte Consulting's annual American Pantry Survey again shows fewer consumers willing to stay loyal to even their favorite brands.

"The recession created a frugality among consumers," says Deloitte's Rich Nanda.

That frugality has endured more than three years after the recession ended, with many buyers buying brand name food, household products and beverages only when a coupon is involved.

The survey, conducted in January, found 94 percent of Americans still cautious about their spending and no longer loyal to brand names, even those who make more than $100,000 a year.

"Those high income earners, they're okay with this more precise, more resourceful method of shopping," Nanda says.

Precise and resourceful in that they go grocery shopping with a specific list, full knowledge of what's on sale and willing to compromise on everything...except pet food.

"People are very attached to their pets," Nanda explains.

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