Posts Tagged ‘shopping’

Buying Shoes Apparently The Thing To Do In A Recession

Tuesday, November 10th, 2009

Shoes have been selling increasingly well despite the recession, due to what analysts are calling “frugal fatigue.”

  • While other retail sales have faltered, shoes are increasingly weathering the economic storm.
  • According to analysts, shoes cost less than other items of clothing (even in a good economy), so more people can afford to spend on shoes regardless of their size or economic situation.
  • Shoes are considered more of a necessity than handbags, beautiful dresses or nice suits. And shoes wear down and need to be replaced more quickly than most articles of clothing.

Facts & Figures

  • Shoe sales were at $1.5 billion in October 2009, highest since October 2006.
  • Sales increased 7.9% compared to one year ago.
  • J.C Penney, Dillard’s, and other major retailers cite shoes as one of their best-selling product categories.

Best Quote

“Shoes democratize fashion. You probably can’t buy a Zac Posen dress if you wear a size 14, but you can buy a pair of Jimmy Choo shoes.” – Kathryn Finney, Writer for the Budget Fashionista blog

Is it worth it to buy a gift for Mom at the airport duty-free shop?

Thursday, October 8th, 2009

The quick answer is that it depends, but probably yes. As the name implies, a duty free shop has no ‘duty’ — or local import tax — on the goods that it sells. By buying something at Heathrow Airport in London, for instance, you don’t have to pay the import tax that the UK slaps on foreign goods (such as Russian vodka) and that a local store in London would include in its price for the same goods.

Because of this, goods at duty-free stores are generally cheaper than if you were to purchase them with the import tax inside the country. However, there are two reasons to be a little cautious: The first is that according to U.S. law, if you buy more than $800 worth of items purchased abroad (duty-free or not), then you will have to pay the import tax.  The second is that sometimes, depending on geography and exchange rates, an item may just be more expensive at duty free stores.

Basically, if you know the price of your mom’s favorite perfume at Macy’s and see it cheaper at the duty-free shop (and you dont plan on buying more than $800 of it), chances are it’s a good deal.

Designers Refuse To Bargain

Monday, April 20th, 2009

How far are designers willing to go to make sure you pay full price?

  • Clothing designers and department stores are facing a growing conflict as the economy continues to suffer: Who controls pricing?
  • Luxury brands are unhappy that department stores have the power to slash prices on their products, undercutting their luxury images and raising questions about how much a $1200 Piazza Sempione dress is really worth.
  • Some designers are following the strategy adopted by major airlines when low-cost websites began buying tickets in bulk and slashing their prices – limiting inventory.

Facts & Figures

  • More than 40 designers requested that their products be left out of a recent Saks “Friends & Family” sale.
  • In a step away from department store control of her product, Eileen Fisher is building 6 new stand-alone stores this year.
  • LVMH, which maintains tight control of its brand and pricing by renting boutique space inside department stores, posted a 10% profit in the fourth quarter of 2008.

Best Quote

“Even wealthy people don’t want to be ripped off.”  – Eileen Fisher, Designer