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Still Working, but Making Do With Less
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The number of people working lesss than 35 hours per week is approaching 7 million according to the Bureau of Labor Statistics. Many of these families are seeing furloughs of afew days amonth, pay cuts and shorter working hours. All this means buying at the discount store, like this family which keeps careful track of account balances while shopping, and keeping a meticulous track of purchases tossed into the shopping cart with a calculator so as not to go over the budget. This may be the reason companies like P&G have introduced affordable lower end brands, so as not to permanently lose these customers to store brands. See the link to P&G's discount brand strategy, which couples with its developing super premium brands at the same time, yet barely eking out a 1-2 % revenue gain in 2009 and 2010 by its estimates.
The low cost and discount brands become important to shoppers and businesses.
07/16/2007
WIth about 7 million workers working less than 35 hours aweek and many facing a couple of days of furlough, or pay cuts, the family shops very carefully and on a budget. Businesses are paying attention, and even companies like P&G (Procter & Gamble) are pushing discount brands.
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