WWD published an article today pointing out that shoppers are improving their shopping skills because of the recession. They are better at comparison shopping, understanding an item's worth and are toying with the retailers' marketing and price dropping tactics. This new shopping behavior is going to put a lot of pressure on retailers with the new inventory of spring clothes though. Consumers have been paying majorly discounted prices for winter items but will have to adjust their spending habits if they want to purchase next season's clothes at full retail value. However, it is more likely that retailers will have to slash their prices for spring.
2 comments:
Great for the consumer. Bad for the vendor.
It looks like businesses across multiple industries will no longer be able to get easy profits. The days of expensive tastes and pricey purchases are soon coming to an end..
Maybe this will cause, if possible, more innovation. In terms of fashion, I think some of today's designers that target 20-something and early 30-something year olds will struggle a bit more because we are a bit more consumptive and careless with our money than other age groups. Well this is based on my personal experience...
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