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Sitting record -- what does that main.
For your next shopping trip and really the retailers across this country.
Our next guest says consumers to think twice before buying anything in the new year Wall Street Journal -- editor Terry -- Joining us I now I've been curious -- -- you to be here and and that really is the message I think that -- luxury spending.
Is gone for the foreseeable future as we will grow -- seat everybody -- and something that was a luxury item in recent years.
It -- -- only thing.
Well I think the other thing is I think a lot of people got really spoiled because we this.
Right before Christmas you can get things seven fat 80% off.
And now you start to wonder.
What really really warrant without -- -- -- worth a thousand dollars -- -- to begin with and I think that it's going to be hard for women to suddenly switched back.
And think about 500 dollar pair of shoes or you know addresses that it 2000 dollars so I think it's we've made a big factor -- They'll -- -- -- did contributing to that newfound attitude -- do you think.
All these designers say designing lower priced lines for say agent him Vera Wang he had -- did that how did that.
It change -- thanking our help change it yes because now you've got -- bigger phone we're vertical volley all these designers.
Designing for -- to them for target.
So what happens is is that you think and why now if they can do this for a 79 dollars.
You know 49000.
Why should I -- by the -- -- And then tackle hasn't been on -- all the time so I think it is going to be a big -- that I think a lot of people are gonna pull back.
And most of those who did any shopping over Christmas.
Had -- so many things it is going to be hard pressed to get.
-- stopping in the spring what these retailers what can they do to get people to spend is there really nothing they can do except cut price is seventy -- what than it used to be that a fashion trend can help out but the problem is we haven't had any big.
Major trend that makes you want it can make it compel him to go shopping.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Just to be in fashion but -- they can go shopping their plaza where what they already have.
And still be car yet it could -- as you said conspicuous consumption is now out of fashion and you think that this is.
Here for the duration that.
Well I think -- a lot of consumers is what the whole point is is that Spanish and has always been something that's been a discretionary purchase made you feel good.
Well there are a lot of things that make -- -- good to have people are worried about their homes you know gas prices have come down but.
I think a lot of people are gonna say it was out you know when Arafat back office for a while I think -- gonna be awhile before it comes back not clearly.
People like fashion the fashion -- that can continue they'll be going on in.
Can mean in February after that to what extent and they had these designers -- put on these which can run hundreds of thousands of dollars the -- what -- we've already started we you know Vera Wang top designer is at gonna do a presentation a smaller scaled down prevents him.
A lot of other designers are big and had to because the car -- have remained thousands Soto went on a big.
Show and why did you do this at a time when people are not going to be buying them.
And in terms of innovation in coming up with the next great fashion trend and I was read in the paper today that Tracy Roth has this small -- city.
That but it carried innovative younger designers -- in LA in West Hollywood is closing day not and I wouldn't know what does that hurt.
The younger designers do you think this is is that just a growing trend and will it hurt innovation and changes in fashion trends what's that the weird thing is is that this past year we have a whole group of young American designers who would just now coming on the right now they haven't started to make money.
But you know name's Eric -- is cooler and Derek Lam and you know they're all kind of backed polls and all at the brink of really and -- -- is a very happily nest and now -- challenge because.
A lot of these small -- to used to promote these designers that's the way that they really -- in business.
You know they're gonna be out of business or the going to be cutting back on.
Purchasing and so this is gonna make.
Is going to be really hard for a lot of these guys to really make it because they're still trying to break and and if you're a consumer you probably want -- -- I was like.
Fragments we want to go back to the product and booties and a brand new kind of rest instead of trying something new on sale.
What exactly but -- before you go out and shot before anybody gets out and spends a nickel.
What are the questions they need to ask themselves well the first thing is this don't be seduced by -- sales everyone keep.
They know what you about -- -- could still spend an and is still shocked to see if not worry.
So the whole point is is that if you want -- -- paid full price for their asses up.
If this wasn't more than -- -- and just doesn't fit to print them off you know don't get walk away.
And it don't let your cards with a lot of necessary it just because some of them fail don't let your -- and really try to buy things that complement what you already home -- you have to -- an entire outfit.
And I did a story in the journal this year with a woman who -- Henry Harrison who was you know figured out a way to right.
Move armor purple close to the front of the plausible that purple -- the hot color this ball and it allowed her to really stretch for war hero.
I've started -- altering things that I.
Warned for years that more out of fashion but you can kind of -- a little bit make him look bad yeah put things up for consignment that we that the way to get some more money and yeah.
At absolutely a war and you know when you before you go shop and take a friend and have somebody with you who will say no if it's player or not -- could deal or that.
This act I mean back because -- really take your time and I wanted to key pieces.
You think about it you know -- it's -- coordinate with your wardrobe and it ends up being a better deal.
But you know this whole idea right -- -- bags on sale.
You know don't go that way.
And all over spring because of false stuff last a lot longer the president -- bring girls are gonna.
-- is Walton aren't exact and Terry is right to say happy new year jail.
With the Wall Street I -- obviously I can't wait to see you again.
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