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Cutting Back and Going Generic
by Jack Loechner, Friday, November 26, 2010 8:15 AM
The results of a recent The Harris Poll of 3,084 adults surveyed online found that over the past six months, 62% of U.S. adults have purchased more generic brands and 45% are brown-bagging lunch
instead of purchasing it. In June, similar numbers of Americans said they were buying generic, and brown-bagging it. A number of Americans have cut back in other small ways to save money, says the
report. Spending/Savings Over Past Six Months To Save Money (All U.S.
adults) Have DoneHave ConsideredHave Not Done Nor ConsideredNot ApplicablePurchasing more generic
brands62%12%17%9%Brown bagging lunch instead of purchasing it4591332Going to the hairdresser/barber/stylist less often3783025Switched to
refillable water bottle instead of purchasing bottle of water37102231Cancelled one or more magazine subscriptions2782341Cancelled or cut back cable television
service22214017Stopped purchasing coffee in the morning2271953Cut down on dry cleaning2151657Changed or cancelled cell phone
service17165017Cancelled landline phone service and only using cell phone17214021Cancelled a newspaper subscription17112744Begun carpooling or using mass transit1493145Source: The Harris Poll, October 2010Other findings of this Harris Poll
include:
- 37% of Americans are going to the hairstylist or barber less often, and 37% have switched to refillable water bottles instead of purchasing bottles of water
- 27% of adults
have cancelled one or more magazine subscriptions while 17% have cancelled a newspaper subscription. In addition, 11% of Americans have considered cancelling a newspaper subscription or a
magazine subscription
- 22% of Americans have stopped purchasing coffee in the morning and 21% have cut down on dry cleaning. 14% have begun carpooling or using mass transit
- 22% of U.S.
adults have cancelled or cut back on cable television service, and 17% have changed or cancelled cell phone service or cancelled their landline service and are only using their cell
phone
Trend Of Spending/Savings Over Past Six Months (Percent Of All
U.S. Adults Saying "Have Done")
Spend/SaveJun 2009Oct 2009Feb 2010Jun 2010Oct 2010Purchasing more generic brands62%64%63%65%62%Brown
bagging lunch instead of purchasing it4747454845Going to the hairdresser/barber/stylist less often3643393837Switched to refillable water bottle instead of purchasing bottle of water3336343937Cancelled
one or more magazine subscriptions2934333127Cancelled or cut back cable television service1921222222Stopped purchasing coffee in the morning1520212222Cut down on dry cleaning2022222421Changed or cancelled cell phone service1415171517Cancelled landline phone service and
only using cell phone1112151517Cancelled a newspaper subscription1721191717Begun carpooling or using mass transit1314141214
Source: The Harris Poll,
October 2010By generation, Gen Xers (those 34-45) are most likely to:
- Purchase generic brands (70%)
- Brown bag their lunch (62%)
- Go to
the hair dresser less often (45%)
- Have stopped purchasing coffee in the morning (35%)
Of Echo Boomers (those 18-33):
- 18% are much less likely to have cancelled a
magazine subscription compared to at least 30% of all the other generations who say they have done this
- 22% are more likely to have cancelled their landline phone service
Generational Spending/Savings Over Past Six Months (Percent of All U.S. adults saying
"Have done")
GenerationSpend/SaveTotalEcho Boomers (18-33)Gen X
(34-45)Baby Boomers (46-64)Matures
(65+)Purchasing more generic brands62%57%70%62%59%Brown bagging lunch instead of purchasing it4546625014Going to the hairdresser/barber/stylist less often3735453927Switched to refillable water bottle instead of purchasing bottle of water3736443631Cancelled one or more magazine subscriptions2718303133Cancelled or cut back cable television service2222282313Stopped purchasing coffee in the morning2219352012Cut down on dry cleaning2115232619Changed or cancelled cell phone service1716211910Cancelled landline phone service and only using cell phone172222156Cancelled a newspaper subscription1713221912Begun carpooling or using mass transit141820125
Source: The Harris Poll, October 2010The report asks if this has become a true
behavior change, or do they come back and buy that latte in the morning again when the economy turns around?For
additional information, please visit Harris Interactive
here.