Report: Recession shopping habits to linger

New York City The upcoming holiday season will be significantly impacted by shopping habits learned during the recession, said Wendy Liebmann, CEO of WSL Strategic Retail on the release of the retail and marketing strategy firm’s new special report, “REBOOT How America Shops.”

“While the recession is ending and shopper panic is over, it is not nearly enough to change shoppers’ habits. In fact, only 17% of shoppers say they will go back to shopping the way they used to,” Liebmann said. 

Additional findings from REBOOT How America Shops include:

• 56% of shoppers are buying less than they used to;
• 50% have closed or stopped using some of their credit cards (including 1/3 of affluent shoppers);
• 41% don’t browse anymore to see what’s new and fun to buy;
• 37% are content buying less;
• 45% honestly admit they just are not sure they will ever shop as they once did; 
• More than 75% of shoppers who switched to lower-price stores during the recession plan to continue shopping there; and
• Less than 40% of shoppers who traded down will return to more expensive brands.

“How America Shops” is based on a national online survey of over 1,500 men and women conducted in July. This study is the third in a series of economic shopper reports WSL Strategic Retail has issued over the course of the recession.