In the wake of the steepest markdowns in years, the International Herald Tribune asks whether big-brands can ever again charge full-price for luxury goods. The answer? No one knows, but experts are observing a fundamental shift in the way consumers value products. [IHT]
“The longer [the recession] lasts, the better [consumers] will feel about a more permanently frugal and wholesome lifestyle,” one industry type tells the paper. “This may last an entire generation,” … “like the period after World War II,” the IHT adds.
“We haven’t seen a fundamental change in human condition but a shift in social conditions and human psychology,” another analyst notes. “There is a much greater examination of what constitutes value and authenticity. People are buying with wisdom. And the big trend is guilt. Shopping is social, it is part of a trend. And people now want guilt-free shopping.”
The Beggar abides.