RETAIL VIEW: Strategies for a down economy
RETAIL VIEW: Strategies for a down economy
The U.S. Commerce Department has released data showing that consumer spending on food dropped almost 3.7 percent during the fourth quarter of 2008 as the effects of the sagging economy made their presence known.
The Wall Street Journal reported the news Friday, Feb. 13, revealing that spending was down pretty much across the board as consumers spent 10.9 percent less on alcohol, registered a 3.4 percent drop in beef purchases and even spent 5.1 percent less on pet food.
But there were several bright spots.
The Wall Street Journal reported the news Friday, Feb. 13, revealing that spending was down pretty much across the board as consumers spent 10.9 percent less on alcohol, registered a 3.4 percent drop in beef purchases and even spent 5.1 percent less on pet food.
But there were several bright spots.