Recession side effect: now, we're smarter shoppers
The great thing about humans, the trait that sets us apart, is that we learn.
We learn that stomping a guy with your football cleat isn’t a good idea. We learn that cheating on your boyfriend, then asking him to tattoo your back, out of your line of sight, won’t end well. And we learn that maybe your Twitter account might be under a little more scrutiny if your dad once scored 894 NHL goals.
As we parted ways with the recession back in 2009, though, the question always was: could we learn from this? Could we reign things in, keep from overspending and ensure … “never again”?
More than two years later, at least by the Bank of Canada’s definition of downturn, how are we doing now? According to a new survey, at least, we’re smarter shoppers, more efficient shoppers and better prepared to hit the malls than we’ve been before.
By a study from Deloitte, 75 per cent of more than 4,000 respondents said they believe they’re smarter shoppers than they were a year earlier.
*Bing: Where the shopping deals will be these holidays
More to that, 86 per cent said they’re getting more precise about what purchases they make; a further 90 per cent said they know what they’re buying now before they even arrive at the store.
Certainly, these are good signs – leaps and bounds from our “well, let’s see what the ol’ credit card can handle” approach when entering stores pre-2008 – and, if we’re to read anything into the Deloitte results, it’s that a change in spending outlook is leading to a shift in shopping behaviour.
In a bid to save, 80 per cent of survey respondents admitted they now do more research before they shop, reaching a pre-determined price point before spending. Two-thirds (66 per cent) said they shop when they know products will be on sale.
“Shoppers today expect to get a deal on the products they purchase,” Pat Conroy, a VP at Deloitte, said in response to the survey.
Of course, news like this should come with a bit of a raised eyebrow anytime the words “Black Friday” and “Cyber Monday” appear near the same stretch of calendar.
But perhaps we can flip that on its head. Despite shopping like it was going out of style yesterday and last Friday, maybe that’s because this is when shoppers choose to splurge now: when there are sales and when there are savings.
Are you a more responsible shopper than you were during, or before, the recession? How have you reigned in spending, if so?
By Jason Buckland, MSN Money
Posted by: Rolf Eliason | Dec 1, 2021 5:56:13 AM
Shopping tip #1 "In the house of the wise are many fine wines and oils, but the fool devoureth what he hath." Living within your means is a truth that has been around for thousands of years. I wish Greece, Italy, Spain and the biggest white elephant offender of all: the USA would all put this in practise. (USA is in debt to the tune of 14 trillion dollars) Most people today do not want wealth, they want lifestyle. The two are separate and distinct. Getting something for nothing leads to one spot: debilitating debt. Wealth equals assets minus liabilities and is the real way to measure finances. Lifestyle drains the pool. Yes, enjoy your fine wine and some oil, but it has to be in measure to your situation. Any American politicians listening? Wealth is not a right, it must be earned. You need less service and higher taxes. Not printing money. Your global friends are watching. Black Friday without black in the bank is black, indeed.