A “new frugality,” born of The Great Recession and two consecutive years of declining consumption—the first time since the Great Depression—is becoming entrenched consumer behavior that will persist for years even as the economy rebounds, inevitably reshaping marketing strategies for financial services and other leading companies, a Booz & Co. survey of 2,000 U.S. consumers shows.

Americans will continue to focus on saving, avoiding risk, finding values and being more cautious and discerning consumers.

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