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In a tough economy, one hears a lot about consumers “trading down.” You may envision these people sobbing quietly as they reach past their regular brands for cheaper alternatives. But a report issued last month by the Boston Consulting Group finds the reality is quite different.
In fact, many Americans experience positive (and self-congratulatory) feelings when trading down. Asked how they feel when trading down, 72 percent said “practical,” 62 percent “knowledgeable,” 51 percent “smart, clever,” 44 percent “happy,” 43 percent “frugal” and 38 percent “better about myself.”
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