Women's Wear Daily took a look at what consumers say is a necessity and what is luxury (a word that is continually evolving in this recession).
"The view of American consumers about what they require, compared with what they desire, is undergoing a fundamental shift," reports Dick Silverman (with whom I started my career! I was an intern at Footwear News while in college and Dick was their Managing Editor back then! Love that I'm still quoting this excellent journalist!) in a recent WWD article.
"The staying power of that change is a core issue facing retailers and manufacturers trying to see around the post-recession curve and measure the mind-set of the buying public ........ continue the rest of the article here.
"The staying power of that change is a core issue facing retailers and manufacturers trying to see around the post-recession curve and measure the mind-set of the buying public ........ continue the rest of the article here.
Key points:
~ Fifty-seven percent of the respondents said they were shopping more at discounters
“Americans have an aspirational ‘keeping up with the Joneses’ culture. It may not be in vogue now, but I really doubt luxury is going to go away.”
Milton Pedraza, ceo of the Luxury Institute, agreed with Chen, citing members of a recent focus group who said they still seek unique design, quality, craftsmanship and service, and will pay for it “when their wallets are fat again.”
Even when money is tight we will find a way to have new jewelry. I have been recycling jewelry for 25 years and decided to lead Jewelry Recycling Workshops. Many attendees have gone on to buy the tools and are using what they learned in the workshops to "recycle" their old jewelry into new and exciting pieces!
JR Nuerge
Eco-friendly+Eco-nomical=Eco-fabulous
http://www.jewelryrecycling.biz
Posted by: JR Nuerge | June 14, 2009 at 01:47 PM