As designers come up with new ideas for clothing year after year, fashion trends will come and go, sometimes as quickly as they come. However, economic issues can impact the world of fashion as times have shown throughout the years.
A number of economic issues can wrack havoc upon the fashion world, including lack of investment spending, drop in household income and slowdown in business profits. These issues can turn away people’s focus on fashionable ideas in toward the focus on the bare necessities of life.
For example, in the recession of 2008, the fashionable clothing industry took a huge hit, resulting in the massive downsizing and closure of many fashion-oriented stores. Unable to afford expensive clothing, consumers avoided such stores. Macy’s, Saks, and Herzberger stores reduced their numbers in many American cities.
The consciousness of many stores opted for a lower brand or quality of clothing, including Target, Sears, and JC Penny’s. Many of these store chains are still suffering from the effect of the 2008 recession, constantly cutting or closing locations.
When consumers stop buying high-end fashion, then stores must take desperate measures, including reducing prices on merchandise. I can remember in 2008 when I bought a massive wardrobe from various stores, including Marshall Fields, now Macy’s.
Taking Advantage of 2008 Recession
I must have collected over a thousand dollars of high-end fashion clothing from such expensive brands as Raphe Lauren. Because I was able to take advantage of the reduced prices of some of the highest clothing brand, I did not need to purchase a steady wardrobe for years. The quality of the high-end fashion clothing enables me to save money for years.
The affordability of high-end fashion during the 2008 recession has negatively affected the world of fashion, especially in the US. Many stores have reduced the quality of their clothing so that the average consumer can afford them.
Why High-End Fashion will Move Forward
Only the rich or well-to-do can afford to dress elegantly on an ongoing basis. High-end fashion will always be in the forefront because such brands cater to the rich. Such brands as Versace, CHANEL, PRADA, and BURBERRY are constant choices of the wealthy.
The passion for fashion must remain, regardless of the economic pressures that might attempt to diminish the expression of fashion in the face of hardship. To maintain its power to bring beauty and peace to the human condition, the power of fashion must prevail.