Word: consumerized
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Dates: during 1980-1989
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Business may pick up as the holiday draws nearer and memories of Black Monday grow fuzzier. But consumer confidence is getting no boost right now from the stock market. The Dow Jones industrial average took several dizzying downward steps last week, including a 76.93-point drop on Monday that ranked...
Perhaps at no other time in the 1980s have economists focused such an intense spotlight on consumer behavior as an indicator of the economy's future prospects. Consumer spending, which constitutes two-thirds of the $4.5 trillion U.S. economy, has been the engine of American growth in recent years. Since...
Yet many American consumers have clearly shopped beyond their means. Adjusted for inflation, personal spending grew 21% between 1980 and 1986, while disposable income during that period rose only 17.6%. One reason is that consumers cannot seem to keep up with all the shiny new temptations. Never before have they...
During the early 1980s Americans developed a pronounced taste for imported goods, stimulated by the strong buying power of the U.S. dollar. Moet & Chandon champagne could be fetched for a bargain $13 a bottle, and sales of everything from Porsches to Paris designer dresses simply zoomed. But now that the...
By far the most dangerous lure is credit, which comes much more freely to U.S. consumers than to their counterparts in other industrial countries. Many Americans who lack willpower tell how easily they got into trouble by accumulating a dozen credit cards or more. Consumer installment debt ballooned in recent...