Shopping for labels or shopping for a home? As most of us know our world is in a financial crisis. Is it time our "want it now" generation takes notice of where we put our money? Generation Y & X are both full of earners with disposable incomes. In lay mans terms, Fendi & Chanel have been very profitable these past years. But with the news headlines putting words like credit crunch and crisis in the forefront of our minds, are we changing our spending habits?
We felt it hard here in Australia this year when Rosemount Australian Fashion Week had a substantially less designer then last year. Also Ray Costarella a designer from Perth was invited to show at Bryant Park but had to decline the exclusive offer because of the crisis and the effect its had on the Australian dollar.
I know this post is a little bleak for your Friday, but the underlying message is important.
Don't forget to spend. As silly as it sounds, right now instead of saving our pennies we need to be injecting it back into the economy to keep it afloat. I don't mean go spend everything on one handbag, but now is the time to support local designers, buy your favorite magazine to keep the industry we live for alive.
Property may seem like a distant dream and very important right now, but try to spend evenly, a beautiful new pair of shoes from your fave local designer and then tuck the rest away that normally you would spend on a Birkin bag away for a rainy day, or a new apartment. It's the bets of both worlds.