With this year's economic woes, more than a handful of luxury, as well as common brands, have been feeling under pressure on the financial front. With losses of jobs and cut hours, consumers can no longer afford to shell out a couple hundred, even thousands, on their favorite brands.
Thus, houses of luxurious brands such as Chanel and Christian Louboutin plan to slash prices in hopes their sales with rise steadily as the economy, hopefully, does. Though this may not take immediate effect for this holiday season, keep an eye out for sales after the start of the New Year.
As for our favorite least expensive brands, well, you can see the backlash of the economy to date. Target recently announced its holiday markdown plan for this year, as Atomic favorite, Cultist, has accumulated about six pages worth of discounted clothes 10-40% off. We have seen similar trends from mega street wear distributor, Karmaloop, within the YEAR-every week there is a new discount promo code.
Even though I am writing as if the new prices are a bad thing, I say bring it on and drop them even lower, because it'll definitely take a while for our economy to patch up.