Here’s a video from Portfolio.com featuring silly fashion industry types discussing the impact the economy is having on business. (No, no Bruno in sight.) We thought it only appropriate to post it on a day that could very well end up looking a lot like October 28, 1929. (Seriously, driving through Midtown in a cab last night, we witnessed a mob-like crowd gathering in front of Lehman Brothers HQ.)
For you, the consumer, know that brands and retailers will increasingly be hunkering down, playing it safe, compromising, and competing for your dollars. That means more sales, more deals, and more opportunities to advantage of. At least for the time being, we are indeed living in a buyers market.