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My daughter, Christiana, and I walked down Rodeo Drive last night. You could sense the fear and depression in the air and the distinct impression that the party is over was palpable. This will not be a good Christmas for retailers.
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Garrett,
Do you think there is going to be a massive change in people's clothing budget? Maybe I am sounding like a guy here, but oh for the day when Americans might return to the concept of having fewer, more quality clothes rather than a whole closet full of outfits for each day of the month. What do you think? And...will the retail industry be able to adapt to a rising tide of budget-conscious Americans?
Trent
Posted by: Trenton Hunter | December 13, 2008 at 12:33 AM
I think they go in two directions: (a) Walmart (b) Brooks Brothers or some such outfitter. Quality, longevity and price is the name of the game in a depression.
Posted by: Garrett | December 13, 2008 at 11:14 AM