American Tastes Change in Downturn #
March 12th, 2008 | In Worth Considering
Though I’m wary of most new organization playing with economics or statistics, this Reuters story qualifies for being both modestly interesting and completely plausible:
At U.S. warehouse club stores, a growing number of shoppers are giving up steak for cheaper chicken. Coffee sales are soaring at McDonald’s, while higher-priced Starbucks slows. Restaurants are serving fewer customers because more people are eating at home.
Stung by the housing slump, tightening credit terms, and rising inflation, U.S. households are finding ways to cut back, putting a damper on the consumer spending that is the driving force behind the economy.