Fashion

Fashion Addicts Face Going on a Budget

The looming recession means that we'll all need to change our spending patterns

By Monica Gaza, Life & Style Editor

19th of June 2008, 10:52 GMT

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Fashion addicts will have to turn creative and start choosing their purchases carefully

We've all heard or read news about the current economic crisis and felt the price of gas and bread going up and up. However shallow it may sound, I'm sure the inner fashionistas in each and every one of us have asked themselves

the following very selfish question: how does the recession affect our spending budget for clothes? Well, it doesn't take a genius to figure out that with the cost of bread and gas on the increase, the fist budget area to incur casualties is bound to be the treat-yourself category. So, you will ask, is there an answer to the looming dilemma of being a fashionista on a budget? The answer is, without a doubt, yes.

The fact is, many clothing retailers out there have long figured out the fact that their faithful shoppers (and I mean us ladies in particular) will soon have to start making cuts in their discretionary spending - and have reacted accordingly. As a result, the words to look out for are "fast fashion". Popular retailers such as Wal-Mart and H&M lead the race for answers to the big challenge of providing trendy and basic apparel for less and less. "What we can see throughout the retail sector is the people at the low end are people who are doing the best in this environment right now", says Nigel Gault, chief U.S. economist for Global Insight.

In other words, those of us who are happy to ignore designer labels and wear great-looking clothes that don't break the bank will fare best in the coming year. And the truth is, we do have a lot of choices if we're looking to design a recession-proof work wardrobe. All we have to do is rely on staple pieces such as pants and jackets that are already in our closets and dress them up or down by adding a variety of cheaper tops and accessories. A word of caution from fashion advisers out there: "fast fashion" mostly favors slimmer ladies, as bigger sizes obviously need more fabric to work and will therefore be pricier. So if you needed an extra reason to get on a diet, this will do just fine.

TAGS:

fashion | recession | budget | clothes shopping

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