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January 13, 2009

Men are from Mars, Women are from Aisle 3

In case you had any doubts that men and women are from different planets, here’s more proof: they also differ in how they’re panicking about the recession.

A survey released yesterday at the National Retail Federation show in New York revealed that women were far more likely to be pessimistic about the economy. As a result, they’re “trading down” products more often than men —  buying store-brand shoes instead of luxe designer footwear, for example. Women were also more likely to change where they shop. Goodbye, Saks; hello, Sears.

And judging from survey results, dinnertime conversation between couples is getting heated. Females are driving the purse-tightening in their households by, for example, nixing family night out. (Retailers are picking up on the trend —Walmart recently sent out an e-newsletter touting “family night fun” with specials on LCD TVs and Xbox games.)

Still, there was some agreement between the sexes on how to cut costs. Roughly 60% of all respondents said they’re spending less in apparel and electronics. But 62% also said they’re spending the same or more on groceries, which can only mean one thing: fewer restaurant meals and more eating in. Time to drag out that recipe for pasta fra diavolo, girls.

The survey was sponsored by Miller Zell, a retail design and research firm.


Betsy Wiesendanger

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