With Economy Down, Consumers Nest

October 20, 2008 RSS Feed Print
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Are you spending more time on your sofa? Settling in with a good movie? Retreating to coziness is the new "painting the town red" as consumers try to deal with depleted investments and rising prices.

The futurist and business consultant Faith Popcorn has upgraded the trend she has previously identified as "cocooning" to "uber-cocooning" to signify the increased emphasis on home. According to her survey, almost 3 in 4 consumers say they spend "a good deal of time at home." Popcorn says that's because they view "home as the safe haven from the increasingly threatening outside world."

We're buying less—more than 80 percent of survey respondents said they were inclined to purchase "less stuff" now, largely because of budget pressures and rising food and gas prices.

The shift also dovetails with what Popcorn terms "cashing out"—the urge to simplify by cutting down on shopping and travel. She views the changes somewhat optimistically and says that while cutting back is painful, "we may emerge the better for it."

As someone with natural nesting inclinations, I tend to agree. But uber-cocooning need not be boring or solitary. It can involve hosting a game night for friends, inventing a new recipe, relaxing into at-home spa treatments, or countless other activities either planned weeks in advance or invented at the spur of the moment.

What are your best ideas for a night at home? Submit them below, and one person will be randomly selected to receive Jennifer Barrett's The Smart Cookies' Guide to Making More Dough. The only rules: It can't cost more than $20, and it has to take place primarily at home.

Tags:
economy,
consumers

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With the current economic down turn more and more people are turning to coupons and any means necessary to cut their costs. So you need a deal site. There are many dealhunting site on the internet. Most of them can help you find a great deals and coupons. I highly recommond this site - http://www.just4deal.com. It is a pretty good site for accessing various online sales, coupons, and clearance events. I don't really think it's an end all and be all website for shopping. I think it should be a supplement to your online purchases. So if you know you need to buy a digital camera or a garden hose then on top of shopping around in the "real world", you check the big sites like Ebay.com, and Amazon.com and then this site… the overview may be a little thin but it's a lot easier to get at a large amount of sales and compare them, in this way than in any other way. I like the site layout as well; it's easy to figure out where you need to go, and then to compare percentages off on the specific product you want.

Anita of CA 9:15AM April 14, 2009

Faith - WOW I have never heard of a bath like that! you add milk, honey and orange peels right into the water?? I'm going to have to try that. It sounds much cheaper than a $6 bath bomb, too.

Kimberly Palmer of 3:46PM October 30, 2008

Last Friday night my boyfriend worked late and we had both had a very long week at work so I decided to have a hot bath waiting for him when he got home. I added in plenty of milk, honey, and orange peels into the bath water. I made a fruit and cheese plate and poured two glasses of wine. we both hopped in ate, drank, talked about our respective hectic weeks and unwound. The bath was fragrant and soothing and the snack was perfect! We'll definitely be doing that again!

Our cost: $0 we had everything at home already

This could definitely be done for less than $20 depending on how much you spend on the wine...

Faith Brown of AZ 3:55PM October 29, 2008

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about making smarter financial decisions. She’s the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back.

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