Fashion Industry In The Economy Crisis
The economy crisis or the rrecession is being felt almost all over the world. The situation is very grave
and the masses are bewildered at the inflation, job cuts and enemployment. On the other hand trade
and businesses are also seeing 'tough times' due to contraction of the peoples' buying power.
Alongwith the other industries, the fashion industry is also being affected. Many 'big names' have
reported that they are having financial troubles. They are also firing employs and some are at the
verge of bankruptcy.
The local boutiques and accessory shops are also complaining of the scarcity of consumers. Many of
the people have actually either completely or partially cut off their fashion budgets. In caase of an
economy crisis the people think that it is too unwise to spend on any item other than food and shelter.
Most of the people are not even buuying new clothes.
The latest fashion trends are not really followed by many people as they can not afford to revamp
their wardrobes. Many people are trying to renovate their wardrobe by using mix and match
techniques and by introducing 'simple and easy to do' changes in their older outfits.
Fashion designing as a career is also suffering. The present fashion designers and image consultants
are not getting any clients. The beauty salons and tanning industry has also suffered. The reason
remains the same: people think it would be unwise to spend money on a pedicure or tanning when
you are not even certain of your job.
Despite all the grim situation there is a good news for the fashion slaves. Due to this lack of sale
many designers, boutiques and salons are offering money saving deals and offers. They range from
50% discount on some services to giving off free coupons of massages or manicure/pedicures for
But the industry can thrive only with a thriving economy. Lets hope that the economists come up with
a solution quickly so that masses can step out of their homes fashionably.Thomas is a writer and a
researcher on Home Finance Tips. Learn more on how to increase your financial intelligence by
learning about home finance management today.