Wal-mart recently announced that they would be stocking fewer brands on their shelves. This isn’t a new issue. Last year, the Wall Street Journal described how retailers were reducing shelf space for different items. There were other retailers mentioned, over six months later when Wal-mart mentions that certain brands would be discontinued from their stores, then more people take notice.

Consumer choice is a good thing. Generally when the consumers stop buying items then that is a sign to the manufacturer that consumers don’t like their goods. Instead, since the market has become so competitive, it is important to cut the losses. For big box stores, items that sell the fewest units are discontinued. They may still be made by a company but not available to consumers. Where does that leave a person who really has “fallen in love with” a particular brand that has fallen out of favor because other brands are better advertised. This doesn’t mean that certain brands are necessarily better because they are available in a store, it just means that the greater the brand recognition – through marketing, then the greater the response by sellers.

Some of the choices that consumers were offered were not real choices but repackaged versions of the same. When items that are truly different aren’t being carried anymore where will a consumer turn? The internet. The are extraneous that choices will go away -think the different varieties of soft drinks – Cherry Dr. Pepper, Coke Zero, vanilla flavored?

Since consumers are holding on to their purse strings a little tighter, the additional options aren’t as enticing as they used to be which means that we will have to get used to fewer choices for some items and greater choices for others. We will survive this. Prior to the late 90s cars came in a wider array of colors and styles from the factory. Now there are fewer than 10 for most makes.

Reducing the choices offered to consumers allows us to focus on the important things (e.g. does the product really work). Then we can shift from the extrinsic value we are encouraged to believe a product has.

Economists and others look for indicators to show that the economy is improving. A personal indicator that I can see is that more people are tossing change again. During the lowest point of the economic downturn it was nearly impossible to find coins on the street, not even pennies. As the economy is slowly improving, more people are dropping change or throwing away their pennies again. What indicators, if any, do you see that shows you the economy is improving?

For those who have a valentine and wish to take him or her out for a special evening. There are still many options available. Restaurants are promoting prix fixe meals for dinner.

Restaurants are still an option for those who do not want or can’t cook a meal for their beloved. Many of your favorite places may be offering a Valentine’s Day special for under $80 per couple. Restaurants are looking for customers too. There is still time to check around and find a place and also to make reservations. Since Valentine’s Day is on Sunday as a part of a long weekend for some, there are options other than dinner.

Another way to save money would be to go to lunch at a nicer restaurant rather than going out for dinner. Many restaurants have similar entrees for their dinner service but they charge less for lunch.