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Britain's top four supermarkets – Tesco, Sainsbury's, Asda and Morrisons – have been worst affected, accounting for nearly three-quarters of the spending shifted towards bargain stores.
Just compare Germany and America.According to a new study from the McKinsey Global Institute, every dollar of corporate spending shifted offshore by an American firm mostly, now, to India generates $1.13 in new wealth for America's economy.
The reason for all the discounting is simple: Shoppers' plans for school spending shifted markedly downward since the spring, according to Britt Beemer, president of industry tracker America's Research Group.
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Their spending shifts the frame of reference that shapes the demands of those just below them, who travel in overlapping social circles.
More disturbing still is the prospect of nearly all social care spending shifting away from central government funding to locally raised revenue.
New government figures show a profound change in welfare spending, shifting money from cash assistance into child care, education, training and other services intended to help poor people get jobs and stay off welfare.
Sales are weak, with consumer spending shifting away from flashy big-ticket merchandise like designer handbags and jewelry in favor of simpler, homier fare like Ping-Pong tables and fuzzy slippers.
Tokyo could also lose its reason for intervening if Japan's own economic recovery really takes off, with more consumption and capital spending shifting some of the burden off exports.
"We are seeing incremental consumer spending shifting toward e-commerce.
The plan also calls for the federal government to drastically reduce how much it will contribute to infrastructure projects as a ratio of overall spending, shifting fundraising responsibilities onto states and cities.
He likened it (kind of) to the Demand Media was able to leverage rapidly increasing display ad revenues as spend shifted away from more traditional media outlets.
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