America has been on a spending spree and we just made our biggest purchase with 700 billion dollars. We read and watch the finger-pointing from both perspectives between Wall street and Main street, and purchasing is coming to an abrupt halt. As everyone is checking their account balances, retailers are missing margins and left with inventory projected from inflated plans.
I’ve began to notice the difference in upgraded spending patterns several years ago in the fashion retail world. From mass to designer brands continued to “trade-up” with design, quality and exclusivity producing much more expensive collections. As the audience increased, I questioned the extent of this new phenom that rivaled the shopping patterns of traditional designer clients.
Unfortunately, the truth is revealed that credit has blurred consumer perspective choosing brands that one does aspire but may not afford. Well, as we shake off the hangover, these graphs from the New York Post illuminates the generation who may have the most dollars to spend but not in the same quantity. Patrick Thomas from the New York Times designed the graphic above for the op-ed “The Buck Stopped Then” by James Grant.
