Wednesday, March 18, 2009

Necessity vs. Luxury

I just read a column in the Washington Post about how consumers are economizing when it comes to wine in this recesession.

Photo courtesy of The New York Times

Not surprisingly: People are spending less on wine -- decreasing their price points by as much (or as little) as 25%. And, people are dining out less (thank goodness) and choosing to entertain at home much more.

Surprisingly: Wine is now considered a necessity, not a luxury, as demonstrated by the fact that people are still buying it, rather than foregoing it altogether. A sign, according to the folks at Wine Spectator, that it's finally made its way to our American dinner tables as a staple.

For the last couple of years, wine's been a staple on my dinner table. And while I still buy a bottle every week, I've gone from spending $15 or less per bottle to $10 or less, or 30% less than the pre-recession 2000s.

We also dine out much less frequently than in years past, in favor of saving more, and ensuring our money goes to things that endure, like a curtain panel here, a gallon of paint there, or a cute dress on sale at J.Crew(!)...

How about you guys: How has the economy changed your "dining and imbibing" habits? Spending less? Spending the same? Are you dining out less in favor of staying at home more?

1 comment:

Tamstyles said...

Heck I seem to spend more but on things for my house..I was buying bags and bags and bags..and shoes and shoes that were way to much...so maybe I am saving because I dont buy many home pieces...well i dont know..