Increase in Piggy Bank Sales
Pig Out
(Fox News) - With the economic downturn, many Americans are shopping less in an effort to pinch their pennies. Ironically, though, that is increasing purchases of one key item: the piggy bank. Erin Mara, a retail worker here in the Washington D.C. store Homebody, says they're selling hand over fist and that, "people were very upfront about the need to save... the pig is very symbolic of that sentiment."
And Amazon.com reports a spike in demand for private safes as well. One popular brand recently leapt almost 2,500 places on Amazon’s ranking list.
Meanwhile, personal savings as a proportion of U.S. disposable income rose to an annual rate of 2.8 percent in November; in April it was at zero. And while that is a considerable jump — it is nowhere near the 11.2 percent savings rate of 1982 — in the depths of the deepest recession in the last 30 years.
(Fox News) - With the economic downturn, many Americans are shopping less in an effort to pinch their pennies. Ironically, though, that is increasing purchases of one key item: the piggy bank. Erin Mara, a retail worker here in the Washington D.C. store Homebody, says they're selling hand over fist and that, "people were very upfront about the need to save... the pig is very symbolic of that sentiment."
And Amazon.com reports a spike in demand for private safes as well. One popular brand recently leapt almost 2,500 places on Amazon’s ranking list.
Meanwhile, personal savings as a proportion of U.S. disposable income rose to an annual rate of 2.8 percent in November; in April it was at zero. And while that is a considerable jump — it is nowhere near the 11.2 percent savings rate of 1982 — in the depths of the deepest recession in the last 30 years.
posted by BP News Bureau | 9:42 AM
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