For Spring Clothes, a Lost Season?

For this week's blog, I decided to read an article on www.nytimes.com called 'For Spring Clothes, a Lost Season?'

This article addresses how the retail industry is suffering right now because of people trying to save as much money as they can. The article focuses mainly on high end retailers like Nordstrom and Saks 5th Avenue because they are having the hardest time. Some very high end stores are even willing to discount their merchandise because the regular priced items are selling so poorly. People no longer want to spend $800 on a purse or a pair of shoes and that is evident by the emptiness in these stores. Luxery stores are concentrating a lot of energy on making customers think that they absolutely need a very expensive piece of clothing or other product. They are also trying to cut production costs wherever they can.

Some stores are optimistic about the future of shopping while others are more pessimistic. It is hard to say whether or not these luxery brands will be able to bounce back from such a bad financial situation but some people think that it will be able to given some time. From my perspective, it is hard for me to imagine people going back to frivilous spending after having to go so long spending less money. I think that some of the stores will come out of the slump, but others may never be able to come back from this.