How has your spending changed?

later12

Last week, Marks and Spencers challenged the popular theory about consumer cutbacks to disclose an unexpected rise in food sales

The retailer said on Wednesday morning that sales of general merchandise, which includes clothing but not food, fell 3.9% on a like-for-like basis.
Food sales compensated for the drop, rising 3.4% on a like-for-like basis, to give the retailer an small overall uplift in like-for-like sales of 0.1%.
Shares in M&S rose by 5.5% in early trading to 359p.

According to commentators, unexpected findings like this suggest that consumers are now opting for more quality products or those which last longer over simply opting for the cheapest.

Is this the case? Do you think that your spending has shifted from simply avoiding high food/ motoring/ clothes bills to spending more intellgiently in these items with a view to the longer term or the quality of these items?

It would be interesting to think that Irish consumers had turned a corner in terms of how they approach their personal purchases. It would be the first real sign, in my opinion, that irish consumers are really starting to modify their financial behaviour to something more sustainable. Maybe it's the German influence?

Saila

I was never one for buying cheap stuff, quality is better in the longer run

Autosport

Saila wrote: »

I was never one for buying cheap stuff, quality is better in the longer run

+1

wyndham

M&S food sales are up in part due to their dine in for 2 offers, dine in for mothers day, dine in for valentines, etc, which position themselves as an alternative to visiting a restaurant, something which many can no longer afford to do.

Also, haven't they just in the last couple of years started stocking branded foods? Which should also merit a rise in overall food revenues as customers no longer need to go elsewhere for the rest of their shopping.

azezil

Same as I always have. For clothes I still go to a cheap shop first knowing they'll never have anything in my size then onto a more expensive shop feel better for having at least tried to find something more affordable first

I have however greatly reduced my Domino's intake (down from 2 - 3 times a week to maybe once a month), but that was also due in part to the associated weight gain >_<

My spending hasn't changed all that much - it's the benefit of being a student before and during the recession.

later12

wyndham wrote: »

M&S food sales are up in part due to their dine in for 2 offers, dine in for mothers day, dine in for valentines, etc, which position themselves as an alternative to visiting a restaurant, something which many can no longer afford to do.

Yes that's true; but not only might they no longer afford to eat in a restaurant, in pursuing cutbacks they are still opting for quality, not heading straight to Lidl or Iceland (the store!).

In that light, I thought it telling that M&S clothes were down, but food was up (moderately expensive, higher quality). There seems to be somrthing of a trend in this area, DIY stores have also reported increased sales in home gardening kits. Despite the fact that you can buy extremely cheap vegetables for a lower input, consumers, it seems, still care about quality.

stupidusername

grrrr where's the option for I spend as much as I always did, cause I've always had sense when it comes to money? :mad:

Mena

I chose option one but you can buy your own feckin champagne!

My spending hasn't changed much. I still buy Penneys for clothes though, I would rather buy cheap and cheerful for shorter durations

later12

stupidusername wrote: »

grrrr where's the option for I spend as much as I always did, cause I've always had sense when it comes to money? :mad:

I guess you could click on option 1, since technically not everyone was drinking champagne in 2004. That was just my Bubbles de Vere artistic flourish.

Or atari jaguar

themadchef

I dont see why we cant have both.

Quality at a decent price, a price where you make a decent profit and i dont get raped (dangerous word to throw around, i know) in the process. Too many middle men make things more expensive than they need be.

Take the lowly farmer getting pittance for his lamb. You will still pay crazy money for a few spring lamb chops! Unfair to all involved, except the supermarket making a killing.

Danbo!

I was unemployed for 6 months and cut back my spending a hell of a lot. It was suprisingly easy to get a weeks groceries for 20 odd quid. Still managed to keep my car going, although if my insurance and tax had of been due during that time it would have been game over. I got a job a few weeks back and although I said id stay thrifty with money it's gone out the window completely and I've pretty much worked out all the fancy **** I'm gonna buy with the first pay cheque.

Dudess

Nothing major. Haven't been on holidays of any kind, even just a short break, since 2009. This was a sacrifice I chose to make though so I could have my weekly night out, weekly lunch/dinner out, buy myself a few nice bits every week - clothes, books, make-up etc. So not exactly hardship.