Habits Are Hard to Break

by , Oct 30, 2001, 12:00 AM
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Habits Are Hard to Break

In addition to other positive news in recent studies, a telephone poll conducted by Frost & Sullivan has revealed that U.S. consumers do not anticipate any significant changes in their discretionary spending patterns over the next six months.

Results of the poll indicate that consumer (discretionary) spending priorities have been, and will continue to be, travel and entertainment. "These responses support what I believe is a logical premise, which is that people's lifestyle and family antecedence are deeply held and not easily swayed," says Laurel Donoho, Director of the Consumer Group at Frost & Sullivan.

A majority of interviewees also reported that they did not anticipate altering their future spending patterns concerning electronic purchases, long-term savings plans or travel, despite the current economic and political situation.

At the same time, however, roughly 25% of respondents admitted they would feel guilty about purchasing entertainment or recreational products during this time. But Donoho said. "In their annual holiday purchase patterns survey, the Consumer Electronics Association (CEA) points out that many consumers expect to spend as much this year as last on electronic products for holiday gifts."

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