Post recession hoarding is having an impact on purchase patterns as customers hang onto products for longer, squeezing every last drop of functionality from them.

The New York Times reports that post recession hoarding is having an impact on consumer purchase patterns as customers hang onto products for longer, squeezing every last drop of functionality from them.

The question of whether this is a more long term readjusting of consumer trends is one which remains open to debate, as the NY Time's notes that some product's upgrade cycles are actually accelerating:

“consumers in 2010 reported spending more to upgrade major kitchen appliances like refrigerators than they did in 2008 or 2009, when such spending fell”.

READ THIS ARTICLE FOR $15
$15 provides access to this article and every case-study, interview, and analysis piece that we publish for the next 30 days. Our Premium Subscription also provides access to a database of over 100,000 articles on innovation in brand, customer, and retail experience.
Already a subscriber? Log in