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Sunday, December 14, 2008

How the Fashion Industry is dealing with the Recession

This season for fashion has never been like any other in recent decades, because of such hard economic times upon us. As the models walked down the runways showing this fall season collections all waited with baited breaths on how it would be received. Reported by The Fashion Spot, a website that reports on the fashion industry and how it affects us, buyers were not applauding this season. The general consensus was that the designs were”Safe but a general lack of zing”. They were looking for a “perfect balance between normal and special”. What is even more nerve racking in the design world is the limiting of new labels buyers are picking up due to recession, which is not good news for all up and coming designers. Designers and retailers alike are dealing with the change in pocket money for women of the working world. It seems that those retailers that target the young women or teenagers are not feeling the pinch. Some, like the retailer Topshot, which also target teens and young adults, are actually reporting a gain in profit. Children are always the last to feel the tightening of belts. Even the stock market is down for all major retailers such as J.C. Penny’s, Kohl’s, Macy’s and the Limited. Total sales are down 1.2% between August and September. This is down 1% from a year ago. These kinds of retailers are bracing for the lowest recorded sales to be reported for the holiday season since the early 1980’s. On the other hand discount retailers such as Wal-Mart, Target, and Costco are experiencing an increase in stock value. You are most likely going to be finding some good sales this winter season. So kill two birds with one stone by taking advantage of opportunities for some great gifts and helping out the fashion industry in these hard economic times.

2 Comment(s):

jhuber7672 said...

It's interesting how fashion and finances mesh and I definitely agree there are deals and steals on clothing everywhere.