America has become a nation of penny pinchers.
The economic meltdown was the 500-pound catalyst, but even amid signs the economy is picking up, many of us still are pinching away. It's a trend that analysts say reflects a seismic — and perhaps lasting — change in our spending habits, and retailers are responding.
Our demand for deals is forcing high-end retailers such as Whole Foods and Starbucks— whose growth symbolized recent boom times — to change how they do business.
Whole Foods (WFMI), the upscale grocer, now loudly touts weekly sales. Starbucks (SBUX), home to the $4 caramel macchiato, now also boasts brewed coffee for about $1.50. Morton's steakhouse (MRT) now sells three mini-burgers at its bar for $5.
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