By Christine Frietchen on October 24, 2009 in
We keep hoping things are looking up, but the only thing that's sure right now is that nobody really knows when the recession will be over. The big yearly barometer -- holiday spending -- is expected to be pretty much flat according to the National Retail Federation. That's for this year, but what about beyond Dec. 25?
We asked 1,200 ConsumerSearch and About.com site visitors about how the economy has impacted their spending -- not just for this year, but beyond. Here's what you told us...
Two-thirds (66%) say the recession has permanently changed spending habits. The majority of survey respondents said that the lousy economy has left a permanent mark. Even when the recession is over, about one in four respondents said they will NEVER spend as much as they did before the recession.
Only 26% say they plan to go back to their old spending habits. So even when the economy does improve, one-quarter of us hope to save more and spend less even though we'll (hopefully) have more disposable income again.
Most hope to save more. Twenty-four percent of you hope to save more in the future, once the recession is over. Back in the first quarter of 2008, Americans were barely saving 1% of disposable income. Now it's up to almost 5% even though the recession drags on, according to the U.S. Department of Commerce.
More are shopping online instead of driving. Our survey showed that 63% of us are choosing to shop close to home or shop online. Even so, more than one third (37%) would drive 30 minutes to two hours to find a special gift.
We want to buy American, but wish it were easier. We also asked if you were making a bigger effort to support American companies; 67% said they're either trying to buy American goods more often or would like to buy American-made goods if they were easier to find.
Our survey also included some questions about Black Friday shopping; you can see those results here.