so with this whole new election hope seems to be main idea. People are actually hopeful now you can feel it in how people speak and go on about their day. I for one, am one of those people. I feel like i can finally take a breathe and not freak out. So as i was talking to my boyfriend the other night we were discussing how my day at work was. I work at Macy’s so this holiday season i was expecting some Christmas shopping but not crazy like other years…wow was i wrong! people might not have money and might have been freaking out but they are out there shopping. The only thing that i did notice…more and more people are paying with credit cards than anything else. Now major credit card companies are getting lots of business but since the economy is still in a bit of a crisis at this moment credit limits are being downsized. Just the other day one of the girls at work was talking about how a customer was so mad because her credit limit had been lowered and she couldn’t purchase the stuff she was planning on taking as Christmas gifts. I say this is a smart move why didnt they do this waaaaaaaay before when things started to look like they were going down the drain.
So how does all this affect the apparel industry well hello i just told u people are shopping but they are willing to go for the cheaper brand right now than for the brand names we all love. Now another thing i came upon…as i was reading WWD, this was an old article about a year old, foreigners are the ones coming to the US to buy products since the dollar has lost some of its value. They are finding that designer labels are sometimes even half the price of what they can buy it for in their home country. So yes this is helping our economy in a way but if you really think about it they are paying less for something we pay more for.
So lets just hope President Elect Barack Obama has a good economic plan in his hands which has finally been leaked out for us to hear and discuss about it. Just remember to be hopeful and pray that we all get through these hard times
until the next one,
Ur Blogging Gurl,