Retailers for the most part seem to be convinced that for every dollar that consumers save by substituting a cheaper product, a new dollar lands in the till from increased spending on higher-cost product and from customers cutting back on dining out.
Mona Doyle, president, The Consumer Network, Philadelphia, said she doesn’t see consumers cutting back on their market baskets or food-at-home purchases. Instead, consumers have cut back in other areas, especially eating out at fine dining ...
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