Summit Notebook

Exclusive outtakes from industry leaders

Where are you spending?

June 8, 2009

This week we’re getting inside views from some of the biggest names in retail…from high-end fashion houses like Hermes to department store chain J.C. Penney. Optimism among those in the industry about a turnaround toward the end of 2009 springs eternal…but what are you seeing? Where are you spending? Or, are you trading down? Ditching Saks and heading to Target? Barclays retail analyst Bob Drbul says the key for consumers in the current economic environment, no matter where they shop, is “value.” Click here to hear his thoughts:

Are you changing your buying behavior? from Reuters TV on Vimeo.

Comments

Hmmmm…I don’t shop at Sak’s, Nordy’s etc. I’m buying less and only what I need (not a big volume purchaser anyway)…pretty much always have, so this is not anything new. I am very selective in well made, quality products. I dislike trendy/uber expensive things and have never bought them, out of choice. Personally, I like vintage things…they are better made than the stuff that is out there and I’m always asked where I got it. Everyone is surprised when I reply a thrift store! The ultimate in recycling!

Posted by Dee in the Emerald City | Report as abusive
 

People will continue to buy goods that make them happy no matter what kind of crisis they face. Sacrifices will be made to acquire items that are highly desired.

 

Well, my buying habits have changed drastically in the past year, especially grocery shopping. I do shop at high end stores occasionally, only because they have clothes that fit me and at reasonable prices (compared to where they were)and only when I have to and when I do it is macaroni and cheese that week. I still go out to eat though with friends. I do not plan any travel or some of my favorite leisure sports activities of last year.

Posted by Victoria | Report as abusive
 

There’s only 2 real changes in my shopping. I’m dining out less than eating in, and I’m buying more books than movies.

 

I don’t shop at any of the stores listed anymore. Over the last year I have shifted to buying, everything, even household goods, at local independent businesses. In some cases it cost slightly more but I know it is better for our town in terms of increased tax revenue. So many of my cities needs are getting cut back due to the tough times. I used to go to Target twice a week. I haven’t shopped there for a solid year now.

Posted by william | Report as abusive
 

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