More than 50 percent of Americans struggle to afford the necessities, according to WSL/Strategic Retail's How America Shops Mega Trends report.
It also found that the youth market, those 18 to 34 years old, are no longer the retail market's golden ticket. Twenty-four percent of this age group said they do not have enough money to cover their basic needs. Those over 35 are doing better because they started their careers a decade before, when times were good. The research is compelling retailers who target the youth market to rethink their strategies, according to WSL/Strategic Retail.
The study also found that branded products are under threat. Shoppers in general are focusing more on price, with 67 percent of women agreeing that trusted brand names aren't worth paying a higher price. More than a quarter of women admit that while they used to buy brand names they could not afford, they no longer give in to that indulgence. This figure is up 7 percent from 2010.
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