Spending and Saving

Picture Shopping in the Recession

We’ve all read or heard about how retail has been suffering in the downturn. That’s why “on sale” has come to mean 70 percent off, well-known names like Eddie Bauer and Filene’s Basement are ending up in the bankrupt bin, and Wal-Mart has laid off hundreds of workers. Of course, all the layoffs mean people have less money to spend at stores, which means more financial difficulty for retailers, etc., etc.

At the same time, it can be hard to picture the numbers–like September auto sales being down 25 percent. How much has everything else dropped? Compared to what?

The New York Times has created another nifty chart, this one showing how Americans have been shopping through the downturn.That line that takes a dive on the bottom? Cars. The flat one dividing everything? Grocery stores. And the one climbing a mountain at the top? Warehouse stores, which is where we’re all trying to save a buck. (For another cool graph, see What Unemployed People Get: Friends, Laundry and Thoughts.)

Maybe you could use it to formulate your one-person bailout plan. Save the furniture stores!!!

Tags: business, economy, shopping, spending, Spending and Saving