Survey: Recession gives way to frugal consumers

>>> we're back now at 7:42 with "today's" money. this morning a new study that's highlighting how the recession has changed our spending habits. "today's" financial editor jean chatzky is here with details. good morning, jean. the study was conducted by the dloit and harrison group, 5,000 shoppers studied, some even accompanied on shopping trips. what had the headlines?

>> the headlines are we know a good deal now when we see it and unless we get that good deal, we are not going to buy.

>> 80% of people in this study believe that something has fundamentally changed in the economy and even though they're spending less they don't feel it is a sacrifice.

>> that's right. they've gotten smarter about what they need versus what they want. they're purchasing less on impulse. many, many people -- 9 out of 10 -- believe that despite what the statistics say we are in a recession right now and it will last another year.

>> and they're not going to change their spending habits even when the economy starts to get better.

>> which i think is really bad news for the retailers and the merchants because they are going to have to continue to come up with ways to make consumers feel like they're getting a better deal.

>> some habits that they say they are now employing. 86% say they're more precise in what they buy. 80% say they are more efficient at getting in and out of the store.

>> they are managing their time as well as their money. they are -- it's like a surgical strike. you know what you need, you get it and you leave.

>> 63% decide what brands to purchase before entering the store and only 10% decide what to buy in the store. no impulse buying anymore.

>> no more impulse buying . and again they want to make sure they're getting those items that they do need at the right price.

>> another thing that came out of this is gender. more men are doing the grocery shopping than in times past.

>> ten years ago only 20% of men were the primary grocery shoppers. now it is 40%. and men are different than women. men are less health conscious, more brand conscious and more willing to buy on impulse which is why my kids like it when my husband goes grocery shopping.

>> couponing still popular?

>> still popular but we are a little tired of it. what we like better are those loyalty cards because they're quick and easy. you only have to swipe them. then consumers actually said when the money rolls off at the end of their purchase they feel like they're in vegas.

>> let's talk about some things consumers told these researchers that they are unwilling to sacrifice on. pet food , candy -- which surprised me -- couldn, condiments, household cleaners -- and beer.

>> these are the items. i think beer is probably the best example. they say something about who we are. if you're a blue moon drinker, a rolling rock is just not going to make you happy and visa versa. so even if these things are not on sale, you're buying them anyway.

>> and the things that americans are willing to compromise on -- frozen pizzas and meals. bottled water. paper towels. salty snacks, and sauces, which sound kind of random.

>> well, it means that if totino's is on sale, that's what you're buying that week. it doesn't matter. your kids aren't necessarily going to complain if you come home with something else.

>> interesting market research .

>> i think so.

>> jean, thanks very much.