January 19, 2010
Affluent Sick and Tired of Frugal Living
FROM RETAILWIRE:
Luxury consumer brands and the retailers that sell them were among the hardest hit during the economic downturn. But, now that the economy is slowly picking up there are signs that affluent consumers and those who aspire to shop like them are coming back.... Are consumers getting sick of being frugal?
MY COMMENTARY:
The perception of "frugal" means different things to different consumers. However, one mistake made by many retailers during the recession is that "frugal" doesn't necessarily mean that consumers don't want "nice things." Fact is, they simply do not want to overpay for them.
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