Trend #1: Bringing Luxury to the Masses
Some say we are on our way out of the recession – and while I am no financial expert, I can say that I have noticed a slight shift in spending patterns by consumers in general. People want to begin spending money again and start buying nice things (after all we deserve them after this past economic year!) And while many of us still can’t necessarily afford to shop at luxury stores such as Gucci or Yves Saint Laurent, the good news is that we will all have the opportunity to buy designer pieces for affordable prices.
High-end designers have begun to design their own lines for mainstream stores such as Target, H&M and Payless. While this concept emerged within the past couple of years, I foresee this trend further taking off in 2010 due to the fact that people are ready to spend money on themselves again, but without splurging. Target alone has already announced new partnerships with designers including Zac Posen, whose line is set to hit stores April 25, 2010. His collection will range from $15-$150 which is a bargain compared to his celebrity-adorned collection that ranges from $900-$12,000.
Many designers have partnered with these stores such as Karl Lagerfeld, who designs for Chanel, and Jimmy Choo for H&M along with Anna Sui and Rodarte whose line with Target hits shelves this December. These lines usually only last for a few weeks at a time and sell out quickly, allowing these designers to remain their heir of exclusivity while appealing to the masses.
I’ve seen economic experts on the news discuss how this recession has engrained in our heads to not be frivolous and that we as consumers will remain ‘smart shoppers’ which goes hand-in-hand with this trend. And while some may argue that it isn’t ‘luxury’ if everyone can afford it, that point may be valid, but designers are still broadening their appeal while allowing shoppers like me to own a little piece of ‘luxury’ for an affordable price.