Thursday, January 15, 2009

Is Luxury Over?

"This whole crisis is like a big spring housecleaning — both moral and physical," Karl Lagerfeld, the designer for Chanel, said in an interview. "There is no creative evolution if you don't have dramatic moments like this. Bling is over. Red carpety covered with rhinestones is out. I call it 'the new modesty.' "

In the lap of luxury, Paris squirms

Sunday, January 11, 2009

$9,085 : The First Year Cost of a Big Screen TV

In the homes of those i visit in my research, it seems that people who are suffering most in this economy have something in common--just look in the background of the interview footage and notice the not-so-hard-to-miss KICK-ASS TELEVISION.

But nobody JUST buys a TV like that, sooner or later it evolves into an "entertainment system," and costs mount. Soon, that "great deal" that they got at best buy is eating into their home mortgage, children's college fund, and food budget.

What Are PEOPLE actually doing?

After talking to some people about money i've learned a few things about how spending habits are changing:

Saying "No" - The world is in a time of economic downfall. Because everyone is going through this together, there is an openness with shortcomings and less of a drive to "keep up appearances." It's okay to say "no" to things you don't need.

Getting away with it. - Cuts need to be made, but people still respect and want the products and services they've aspired to or used in the past. They still follow and trust Brands that speak to them, even if they're not buying they're paying attention.

Migrating - People have their favorite places to shop and usually the experience at those places are better than the nearest alternatives. As prices rise, consumers will sacrifice shopping experience for easy savings.

Reducing - People still want to experience the things they enjoy. Eliminating all indulgences is a last resort, in the meantime treats are scaled back in size and frequency.

Maximizing Benefits - Some brands of products just work better. They have a functional reason to succeed and therefore usually cost more. When saving money, people figure out how and when they can substitute cheaper products for their superior counterpart.

Procrastinating. - People will not change until they have to.

January 2009

Wednesday, January 7, 2009


Why do i say so now? because today, hours ago, i was officially touched by this economic downturn and i didnt like it. Im sure there will be more to come on this topic now that's it's gotten personal.

Tuesday, January 6, 2009

I thought Obama would have a cool name to say before it got played out.


Cognitive Dissonance:

Fact: Buying less is GOOD for the PLANET.
Fact: Buying less is BAD for the ECONOMY.

What does YouTube have to say about all of this?

Ways people feel about the the economic situation:




My generation thinks like this.