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Recessionista vs. Fashionista
By admins | April 7, 2009
Right now we are clearly in the midst of a fashion crisis of epic, or should we say economic, proportions. Our newly popular recessionista, as well as, the tried and true fashionista, are bringing the dichotomy of American socio-economic issues to the fashionable forefront. With a recession looming over everyone’s heads, it’s no big surprise that the fashion industry has suffered greatly. For those of us in the industry, it began well over a year ago, with the demand from retailers requesting more for less. Retailers have been negotiating down every penny from their suppliers, or worse, not buying at all. So with the disappearing discretionary spending of the fashionista the recessionistas was born. Right?
Maybe not; it is a common belief that as our shopaholic fashionista has felt the pinch of the recession she has become thrifty. The concept is fashionistas have traded in their Ferragamo pumps for Old Navy flip-flops. While we certainly believe a great many middle-class and upper middle-class fashionistas have stopped coveting the latest 4k “it” handbag in favor of shopping Loehmann’s sales, many have not. At the high-end of the luxury market the uber-fashionista still remains. At the same time, we don’t buy into the belief that being a recessionista is simply a new trend. Being a budget conscious, comparison shopper has always been in fashion. This is why designer diffusion lines at Target, or stores like H&M and Forever 21 have proven to be so popular. The real change that has brought the recessionista such media attention is their sudden enormous increase in numbers.
It’s no surprise, given our current economic climate, that recession friendly retailer Wal-Mart has thrived. While specialty and department stores are failing left and right, Wal-Mart is snapping up a larger segment of the consumer market. Wal-Mart sales have outperformed estimates and are projected to show a 3% rise at the end of this quarter. During a recession, the consumer values price above all else, which explains why companies like Wal-Mart and McDonalds are often referred to as recession-proof. Recessionistas are not only shopping mass-marketers in larger numbers then ever before, but they are becoming craftier as well. Whether it’s DIY projects, scoping out sample sales, reworking existing wardrobes, renting designer duds, or even the newly popular clothing swaps, budget fashion is booming.
As the recessionista is coming into her own, the uber-fashionista is still out there dropping the big bucks on the big names. Parisian luxury brand Hermes managed to turn a profit in 2008, even reporting a 6.2% rise in the 4th quarter. The ultimate in high-end luxury LVMH which owns countless luxury brands including, Louis Vuitton, Moet, TAG Heuer, Fendi, and Givenchy, had a 4% sales increase in 2008. LVMH’s CEO Bernard Arnault declared that his company was “resistant to economic cycles.” Luxury brands that targeted the upper middle-class fashionista like Calvin Klein and Donna Karen are suffering and aspiration brands like Gucci have seen a drop. However, the couture luxury brand remains solid. Brands like Hermes, Chanel, and Prada are going strong, thanks to the uber-fashionista. As the recessionista fills in her wardrobe with Forever 21 pieces the fashionista prefers to buy less product, but in far higher quality for a longer wardrobe lifespan.
What is so fascinating about our current fashionistas and recessionistas is what polar opposites they have become. Where is the middle-class or upper middle-class shopper anymore? The enormous divide between the two is more than just a fashion statement; it is a commentary on the state of country. Here in the US we have such a disparity of income that it is almost as if we are living in two different worlds. The uber-fashionista and the recessionista are indicative of the two Americas currently living side by side. With unemployment at a record high and tent cities popping up in California, it is hard to comprehend that at the same time Net-a-Porter sold out of $11,000 Balmain jackets in less than 24 hours. So what are you, a recessionista or a fashionista? Have you switched titles recently? Do you feel the fashion middle ground is missing?
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Topics: economy, shop | 24 Comments » 
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April 8th, 2009 at 8:58 am
Amazing article!
I definitely think that, like the American Middle Class, that the middle ground between the shopping worlds is disappearing. There may be people who occupy the middle ground in both, but it’s becoming considerably smaller. It’s creating very interesting mentalities, especially in the Recessionista & Fashionista worlds, ones that I think have their pros and cons.
April 8th, 2009 at 12:45 pm
I loved this article and it really rang true. I recently purchased a pair of expensive designer jeans BUT I waited until the store had a sale and I received a $25 gift certificate for the same store. Therefore, I can still be clad in designer denim but I saved over $60! By the way, I love your catchy titles!
April 9th, 2009 at 5:45 am
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 9th, 2009 at 8:04 am
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 9th, 2009 at 9:57 am
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 9th, 2009 at 10:47 am
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 9th, 2009 at 11:00 am
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 9th, 2009 at 1:01 pm
uh-oh, you know what big disparity and no middle class means…let’s be well-dressed for the revolution, shall we??!
April 9th, 2009 at 4:46 pm
Fantastic article! Of course there has been a major change in the way people shop. The middle class fashionista has become much more savvy–before she was shopping sales and collecting coupons. Now it’s all about the swap party, flea markets, inexpensive vintage, Target and Forever 21. As for myself, I used to be all about Express and their fantastic coupons however now I totally love flea markets and diy fashion. I just simply cannot support Walmart unless I have to choose between newspaper and toilet paper! Sorry for the crasness but I have very little tolerance for Walmart and what it has done to retail in this country.
April 9th, 2009 at 5:25 pm
I used to consider myself “cheap” but now that there’s a sexy term like “recessionista” I’ve adopted it. My theory was that quantity was better than quality.
As I’m getting older and progressing in my career, I attempted to move more towards budget-conscious fashionista status. I spent $500 on two key pieces during the December Barneys sale and then stopped shopping for a few months.
I didn’t attribute this to my lack of shopping, but this winter, I started to feel really bummed and borderline depressed. I felt blah, I dressed blah, and it was annoying. On a recent evening after work I went to Forever 21 and bought a super-cute black dress for $23.80 that I wore to work the next day and felt AMAZING! Maybe I’m a shopping addict afterall and that one hit really did the trick to kick my dopamine level up a notch.
I’m going to rethink saving up for Manolos, and instead focus on cheap instant gratification… For now…
April 9th, 2009 at 10:07 pm
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April 10th, 2009 at 9:35 am
What about the depressionistas who do not buy at all? I am that. I used to be a fashionista, but only occasionally splurged, mostly bags. I didn’t do the right thing.
April 10th, 2009 at 11:51 am
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 10th, 2009 at 1:07 pm
I enjoyed this article. It had more substance than other articles I’ve on some other fashion blogs. Keep it up. I read on a message board that tent cities and similar communites have been around at least since the 1980’s. I knew homelessness wasn’t a new problem but I didn’t know about that. Also,we can’t forget about the Hovervilles of the 1930’s.
I have been underemployed/unemployed even when things were good. I only buy clothes for my birthday, Christmas and a few items at the change of seasons. I’m into DIY. I knit, crochet and make jewelry. I’m going to learn to sew soon. I know I can make it.
We need a balanced trade agreement. We need to change this consumer driven economy. Stores need to stop pushing credit cards on people and bring back lay-away.
April 10th, 2009 at 9:50 pm
I can see how brands like Chanel and Hermes are doing well. Perhaps their sales of seasonal blouses is down, but perhaps there handbags are holding steady. Because Hermes and Chanel bags are considered timeless investments. And then there is that other side where if the person that has the money either wants something timeless or whats something very different, like the balmain jackets.
I could never completely stop shopping. I like to think that i shop smarter and cutting out impulse buys and knowing what’s worth spending money on and where i can skimp.
April 11th, 2009 at 7:12 pm
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 12th, 2009 at 6:14 pm
i hate the term recessionista.
but if i had to classify myself as one of the two, i’ve always been & probably always will be a recessionista. i just can’t justify spending $11,000 on one jacket when i could buy 1,100 jackets for $10 each. thrift stores all the way baby.
April 12th, 2009 at 8:46 pm
Recessionista, I haven’t been a fashionista for a few years, when my income changed (downward).
I get all my clothes vintage, online clothing swaps and second hand stores. And I still try to go for the quality items (lots of Banana Republic). :-)
April 13th, 2009 at 12:10 am
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April 13th, 2009 at 12:55 pm
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
April 15th, 2009 at 2:13 pm
i agree that being a recessionista has always been in style. how much more fashionable is it to spend 4K on a european vacation with a vintage bag than on a 4K bag?
April 15th, 2009 at 5:37 pm
The funny thing is there is a whole other world…. Its called suburbia and it has little fashion at all.
May 4th, 2009 at 2:22 pm
[...] 39th & Broadway – 39th & Broadway breaks down fashion and the economy [...]
June 9th, 2009 at 10:06 pm
[...] issues that we have written about as well, specifically in our posts regarding luxury fatigue and recessionistas. Neither Cathy’s speech nor our pieces are the only ones of their kind but they’re [...]