After America dipped its toes into the recession earlier this year, fashion brands saw an inevitable follow up from most of the greatest countries in the world. Soon enough fashion brands had created niche markets for the gullible consumers.
After the world’s economies went skinny dipping into a pool full of recession, fashion brands experienced a drastic fall in their revenues due to the sudden shift away from expensive, branded clothing. But now never before has it been so trendy to be cheap! And with the looming threat of a double recession economy watchers approximate the negligibility of consumers straying away from this newly found mind set.
The trends have all changed and now the economic theories of John Mayard Keynes just don’t do the trick anymore. Restrained spending has always walked hand in hand with an economy experiencing recession; however now Americans everywhere are boasting about their rock-bottom fashion finds and the number of braggers just keeps on increasing!
As America’s unemployment rate dives nearer to 10%, more and more shoppers are turning towards affordable labels to re-style their wardrobes, either that or they are staying away from shopping at all costs! Literally!
Now is not the time in America for job securities and salary extensions or even lenient consumer credit. All over the globe there has been speculation about the upcoming wave of the second recession which could eventually lead America’s economy into a deflationary spiral which could take America years to get out of. The chairman of the US Federal Reserve has proclaimed the recession as “unusually uncertain.” The simplicity of that statement does not look too good!
Most consumers have paid their pending tabs at stores such as Bloomingdale’s and have moved on to less expensive stores such as Marshalls and TJ Maxx, thing is some customers are now getting the idea that cheap is chic and with brands such as Mango and Zara promoting that message there can be no mistake in those few words.
While some consumers save and spend others keep up the trademark despite being laid off of work, the addiction towards splurging on these goods maybe uncontrollable for some but others have proved to be more resilient towards all the advertisements that high brands put out. Most of them just don’t want to go through their savings so quickly.
Consumers know that just because they’re buying the cheap stuff don’t mean its not decent enough for donning outside the house. As Donna Georgio put it ‘My priorities have changed, but I can still hook it up and look good!’
