In today's edition of "Talking Stocks," analyst Austin Smith takes a step back and wonders where consumer goods or retail investors should put putting their hard-earned dollars in this economy.

With overall spending outpacing revenue growth, unemployment remaining high, and the savings rate declining, Austin is looking at deep-value retailers and consumer staples companies. It's a proven and predictable strategy for sustaining and growing wealth in tough economic climates. While the high-end consumer is likely to spend regardless of broader economic conditions, this is a smaller audience whose spending patterns can be harder to predict since there is a layer of discretion and preference. The opposite is true of the low-end consumer, whom you can often count on to trade down to discount retailers and buy only essentials when the going gets tough. 

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