The New Thriftiness in America

Today's news that consumer spending dropped by one percent last month, the biggest decrease since 2001, isn't what retailers want to hear right now. After a day of thanksgiving, the holiday shopping season kicks off on Friday, traditionally the biggest shopping day of the year. Retailers count on weeks ahead to bring in one-third of their annual sales. What are retailers doing to bring shoppers in? Are Americans re-thinking their consumer habits in the midst of economic hard times? Will more people be drawn to the simple lifestyle movement? What shifts does that signal for an economy that depends on consumer spending?