Consumers are clipping coupons at a rate not seen since before the 2007 recession, and that's a troubling sign, according to Coupons.com CEO Steven Boal.
“He said he expects the payroll tax hikes, rising food and gas prices are squeezing household budgets.”
This pattern is almost identical to the one that played out right before the last major economic downturn. The higher the index value, the more consumers are under economic pressure, Boal told CNBC.com
The most popular coupons that are being printed right now are: soup, cheese, rice, pasta and M&Ms. "People are seeking comfort food," he said.
A recent survey from the National Retail Federation showed seven in ten Americans were adjusting their spending plans to cope with this year's payroll tax changes. Nearly half of those polled said they planned to comparison shop more often
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