14 DAY TRIAL // Even in recession, women continue to spend their money on trifles and, as studies have shown, make expenses they can’t afford and refuse to keep on a budget. Although it was initially believed this had more to do with their need to spend money to boost their mood, analysts estimate the increased expenditure is also connected to the current tendency of turning our back to throwaway fashion and orienting ourselves towards more expensive, but also higher quality, items, the Daily Mail says.
It’s not uncommon for supermarkets and large chain stores to replicate designs seen on the catwalk that are later sold for a fraction of the price of the original. In recent months, this tendency has seen a soaring popularity, except that the so-called knock-offs are no longer absurdly affordable, but rather targeting middle-class clientele. What this means, analysts believe, is that women all over are focusing on more expensive items (but not the most expensive there are) that also have a longer lifespan, being of higher quality, as opposed to the kind of purchases they would have made, say, one year ago.
Data made public by TNS shows that the amount spent on clothes went up by eight percent, but the volume purchased actually fell by one percent. Again, this is the most clear indication that shoppers are trying to control their cheap impulse purchases, saving up their money to buy something worth the value, an item that they will then get to wear for much longer. Supermarkets, in their turn, are coming to their assistance with cheaper versions of the designs they see on the catwalk, but that are, at the same time, more expensive than what they would have bought until just recently.
“Supermarkets are getting better at selling more expensive clothing. Maybe people are buying an expensive coat rather than a couple of T-shirts.” Nick Bubb, retail analyst at Pali International, says for the Mail. Katrin Magnussen, fashion analyst at market researcher Mintel, agrees in adding that, “People are choosing to go for more quality items instead of going for something in fashion for this season.”
“Supermarkets have seen success in higher priced items such as knitwear, dresses and formal wear.” fashion sales analyst at TNS Elaine Giles also says for the Daily Mail.