The adoption rate of smartphones has changed how businesses do business with you and me. When I go into a store, I’m on my smartphone looking for an in-store discount or looking for a price match at other retailers so I can get it at that store.
When I do this, I do a double search at both DuckDuckGo.com and Google.com and it saves me money about a third of the time. If you don’t do that yet on your smartphone, you really ought to think about it.
Meanwhile, Americans are out spending more. NBC News reports that we have become less frugal. Economists call it catch-up consumption. A lot of Americans are tired of reducing spending after the last 6 years. Things have gotten somewhat better, though not for everybody, and this “catch up” will push the economy along.
You see it in car sales. This year, we may have 15 million+ new cars sold versus 9 million just four years ago. You see in restaurants, where sales are going up. Another catch-up is even marriage!
People who might have gotten married in the aftermath of the recession put it off. Now, they’re more apt to tie the knot. When people get married, they’re more likely to move forward with buying homes. Then you feel the need to furnish that home and buy all kinds of goodies for your home. That’s going to drive the economy too.
So we’re moving to the reverse of people pulling it in. The whole picture is changing.