A new Morpace Omnibus Study reveals that a majority of consumers, weighed down by economic concerns, have begun to tighten up their retail spending and many are shifting their behavior toward money-saving shopping alternatives.


U.S. consumers interviewed September 9 through 16 were asked how economic conditions have impacted their overall shopping during the past three months. Fifty-four percent say they have been spending less money than in the past, outweighing by a margin of over three to one those who report spending more.

Amid the signs of more cost-conscious behavior, 70 percent of consumers say they are shopping sale items more often and 53 percent report that they have become less brand loyal in favor of less expensive brands.

"Clearly, financial concerns and uncertainties were already weighing on shoppers' minds," said Kirsten Denyes, Vice President Retail Practice of research organization Morpace. "All the troubling financial news of the past two weeks will only add to their caution."

"A low growth holiday sales season is already expected," Denyes added. "And we see signs of further shifts in holiday retail behavior as shoppers pull back."

One such shift is suggested by the survey's finding that almost one-fourth of consumers expect to spend less money this holiday season at department stores, compared to last year. In contrast, net gains - subtracting those who expect to spend less from those who expect to spend more - are noted for discount stores and online retailers.