There’s a cartoon circulating, it’s in syndication, and it perfectly captures this moment in time: Two women are walking down the street past shop windows where there are all these percentage-off signs prominently hung. They’re stopped in front of a dress shop where there’s a big graphic that says, “Everything 80% to 90% off.” The bubble over the one woman’s head says to the other woman, “I don’t know, I think I’ll wait till it goes down some more.”
Stock is being reduced everywhere, granted, at times so low that it’s an incentive for even the stingiest of us to reach into our pockets...but rest assured, the market has pretty much bottomed out. Consumers, like trained chimps, have quickly learned that paying full price for anything is ridiculous. Maybe Macy’s will start offering bananas with purchase to lure us back in.
Retailers don’t want to talk about the economy. We know you are bleeding. Yet, they invariably send out these rosy statement letters that indicate everything is okay, or will be, from your mouth to God's ear. Retailers are trying their best. I’m certain they are, but at times, it seems like retailers are talking about everything except the problem. They talk about eco-consciousness, reducing the carbon footprint, transparency, branding, pandering, bloggers slandering, importance of design, being kind, being green, being lean, and catering to teens, smart design, store design, and even de-signing the signs, the country of origin, their margins, affordable luxury, customer service, shopping as an experience, shopping as a destination, visual merchandising, catering to demographics, social awareness, social consciousness, Internet presence, the global market, giving back to the community, relevance of product, regionalization of product, establishing a unique voice, and can I ask you your zip code for our records? It’s all smoke and mirrors. It belies that the economy has changed us, changed our behavior and altered the way we shop and what our expectations are--but let’s not talk about it.
Retailers are running around like Iccarus with his wings on fire. Calm down and take a deep breath. We applaud you for your valiant efforts. Give yourself a big pat on the back. We’re still shopping, just not so much. Our closest are full from years of wreckless spending. Our credits cards are maxed out. While the national economy is perilous, there are no breadlines; (yet he says cautiously) by the way, Macy’s did very well during the Great Depression, as did many of the great American department stores, but let's not talk about that.
America is getting by on less. The pendulum has swung the other way. Internet sales on shopping sites appear not to have dropped dramatically. eBay is selling second-hand clothes as “gently worn” and “recently loved.” Sales are re-sellers (vintage and second hand) are doing very well. The home sewing community is gathering steam; people are learning how to make things for themselves. In fact, I’m one of those people. I made a winter overcoat out of an old ivory colored Pendleton blanket. It’s a dream. Those who are not “crafty” are buying small run items on sites like www.etsy.com.
Some retailers like Martin + Osa encourage customers to bring in their old clothes for donation to the Good Will and Salvation Army. Other retailers are willing to buy back clothing for a store credit, so that discount shoppers can buy last season’s jeans and tops at a fraction of their original price.
So let’s talk about it, let’s look at the economy. Let’s be real. Let’s be candid.
--Ron Knoth, Guest Blogger

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