Frugal Consumers Swap Steak For Chicken

At U.S. warehouse club stores, a growing number of shoppers are giving up steak for cheaper chicken. Coffee sales are soaring at McDonald's, while higher-priced Starbucks slows. Restaurants are serving fewer customers because more people are eating at home.

Stung by the housing slump, tightening credit terms, and rising inflation, U.S. households are finding ways to cut back, putting a damper on the consumer spending that is the driving force behind the economy.

Retail sector analysts call it "trading down" when consumers seek out cheaper alternatives, and it is increasingly evident across chain stores and restaurants. Even gasoline consumption has slowed in recent weeks.

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Comments

[kellygrrrl]

you think it might have anything to do with the videos all over showing the sick dying cows being shoved into the slaughter house?

and BTW, organic chicken is not exactly cheap, but is the ONLY chicken you should eat.

[VictoriaLynnLewis]

Hell, I have been buying chicken for years. Somehow I don't think not getting to eat steak should be the worst of our fears. How about not making enough money to afford to drive back and forth to work everyday?.. Vic

[joebaggadonuts]

Gotta love the industry. http://www.bloomberg.com/apps/news?pid=20601087&sid=axGaGV2QF_BM&refer=home

Apparently they realize that chicken prices are going up so they are tightening supply. LOL.

[joebaggadonuts]

Let me know when they get to tofu.

[civilbehavior]

Wow.........people aren't buying steaks.

Did anyone read about how if we don't take emisssions down to zero and soon we won't have an earth.

Who cares? Let them eat cake.

Wake me when the revolution starts. Until then I am making plans for the crash because that silver bullet is coming into Grand Central and soon.