We all know these are difficult economic times. Consumers’ priorities have shifted dramatically, and that means dramatic changes for many businesses. Gallup has analyzed consumer behavior in many different sectors of the economy throughout the recession. What they’ve discovered is a foundational shift in the way people are spending and saving money. Ignoring this “new normal” can put companies in peril.

Spending is down significantly in fast-food and casual dining

According to Gallup research, 46 percent of Americans say they’re spending less than they were a year ago. About 1 in 10 (11%) see this change in spending as temporary, and they intend to start spending more in the future. But 35 percent say their spending changes are permanent.

So it’s time to face the new consumer spending facts: Americans don’t believe they’re going back to the way things were, regardless of when and how quickly the economy recovers. As a result, consumers are weighing tough choices about everything—and every brand—before they buy. Brands that embrace this change and find ways to engage their customers will outperform their competitors now and as the economy improves.

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