Last night I read this article in the WSJ about how Americans are spending more on electronics like iPads and flat-screen televisions, and less on durable goods like furniture, washing machines and lawn mowers. The data is quite interesting, but this particular paragraph is still wandering through my mind:
"The shift reflects a change in priorities for American consumers. After pouring money into all aspects of their homes during the previous decade, consumers are redirecting their purchases to eye-grabbing technology and socking away more of what's left over into savings. Apparel company executives are worried the lure of electronics will eat into their sales as the back-to-school season gets under way."Perhaps another sign of where things are heading to?
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I hadn't yet seen any data like this for any post-recession spending and it's fascinating to see the difference in electronics vs furniture spending for the first half of 2010.
Perhaps its a little escapism on our part? Maybe we're treating ourselves to some new toys after the recession shifted our spending habits away from luxury items.
Lots of food for thought there!
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