Boring Fashion Hurting Economy

In an article last week, Fortune Magazine may have put its finger on why retail sales in America have been such a drag lately. November and December are supposed to be boom months for the fashion and retail industries, but so far sales have been less than impressive. Many economists have started crying recession, blaming the usual suspects like the slipping dollar and high oil prices.

But while sales of apparel are sluggish at best, electronic sales are up 5.8% and sales of luxury goods have soared 10.8%. What gives? According to Fortune, which confirmed a nagging feeling we’ve had for a while, women aren’t buying clothes because…. new fashion is boring.

Aside from holiday gift staples like scarves and basic sweaters, shoppers are left with few alternatives for hot new fashion items. “The current clothing styles appear very similar to what we have seen in stores throughout the past year,” noted Jennifer Black, a retail analyst, who recently completed an extensive tour of mall-based specialty retailers.

It’s true that the fall/winter offering this year is an unexciting repeat of the skinny jeans and babydoll tops that have dominated the streets for at least 3 seasons now, so Fortune’s assessment, while astute, is not all that surprising.

On another note, maybe the slumping retail sales has something to do with the trend toward socially responsible shopping? Perhaps women are less inclined to buy a whole new wardrobe every season, and instead opt for handmade pieces, DIY and socially-responsible gifts, fair trade clothing and organic fabrics, and at the very least buying at smaller boutiques rather than large retailers.

Fortune: Ho-hum fashion hinders holiday sales