Display & Design Ideas - December 2008 - (Page 1)

Recessionistas: It’s cool to be cheap es, the economy is suffering. Yes, consumer spending is down. But consumers, while quietly zipping up their pocketbooks and cutting up their credit cards, have become more creative than ever—when they do venture out to shop. These “Recessionistas”—as The New York Times has dubbed them—have emerged on the retail scene, bringing a new, cool frugality to the shopping trip, while maintaining the style, flair and taste they have come to enjoy. Fast-fashion retailers are cranking out cheap-chic apparel by the truckload, catering to the Recessionista’s cheap-but-stylish needs. Even Michelle Obama, our first lady elect, has been noted for her “Recession chic”—after being spotted in an H&M dress. Vintage is regaining popularity for those into the “slightly used” option, with thrift stores and consignment shops seeing an uptick in sales this year (see more on thrift stores on page 6 of this issue). The new Saturday shopping outing is searching out bargain finds and treasures at local yard sales and flea markets. Coupon Connie has made a comeback. As consumers cut back and try to make their dollar go further, coupons are the golden ticket to a customer’s heart. For the Recessionista, to save is to spend. Coupons, promotions and discounts have become to stores what passports are to foreign countries—required for entry. I myself admittedly recently purchased a coupon organizer—with color-coded alphabetized compartments—and yes, I use it. Social networks have added more savings opportunities for the Recessionista. This year, RetailMeNot.com was the first coupon Web site to offer a social network for coupon-conscious consumers, connecting shoppers together to share advice on the best coupons, offers and deals. Community members can get news on exclusive shopping events, blog about shopping adventures and even earn recognition for sharing discount codes. And other groups have emerged online at MySpace and Facebook, offering plenty of from-the-street retail knowhow. These new bargain hunters, with coupons, promotion clippings and rebate offers in tow, now set out on their shopping trips with the business section of their local newspapers under their arms as well. The bargain shoppers have traded up to become “liquidation hunters”—seeking out store-closing sales en masse. A recent trip to my local soon-to-be-extinct Linens ’n Things proved as much. As I went to say goodbye to all that was linen or thing (and pick up a few deals while I was at it), I struck up a conversation with a woman waiting in line who knew just as much about the recent retail Chapter 11 filings and liquidation announcements as I did—and I write for a retail from the editor 1 Y magazine. This Recessionista was a housewife—and a very wise savings-savvy housewife at that. It has gone beyond shopping for discounts—some Americans are withdrawing themselves completely from the consumer landscape. Getting stuff for free has become more pride-inducing than bragging about a $300 Coach handbag purchase. Enter the new age of “freegans,” a subculture of consumers—or non-consumers—who shop in neighbors’ garbage bins and restaurant dumpsters, versus the local retail store. “Bin diving” is the new blue light special. (Not sure where they are “finding” their deodorant, but that’s another question for another column.) For those not ready to nosedive into the local dumpster, the Internet provides ideas a-plenty for the deal-seeking Recessionista. Sites like Freecycle.net offer another avenue of shopping for freebies. “Freecycling” is when a person passes on an unwanted item to another person who needs that item—free of charge. From silverware to clothing to cars and mobile homes, people worldwide are freecycling their goods—and acquiring a lot of free stuff in the meantime. The site has a Recycling Group Finder that connects nearly 6.5 million people in more than 5,000 recycling groups spanning 88 countries—all dedicated to the cause of getting stuff for free. Retailers looking to grab the attention of these consumers need remember one very important mantra—for the savvy-saving Recessionista, “it’s cool to be cheap.” How cheap are your customers? Let me know at aembrey@ddimagazine.com. Alison Embrey Medina Executive Editor Number 2 at www.ddimagazine.com/readerservice December 2008 www.ddimagazine.com http://www.Freecycle.net http://www.RetailMeNot.com http://www.interbranddesignforum.com http://www.interbranddesignforum.com http://www.ddimagazine.com/readerservice http://www.ddimagazine.com

Table of Contents for the Digital Edition of Display & Design Ideas - December 2008

Display & Design Ideas - December 2008
From the Editor
Contents
News Watch
DDI’s Leadership Forum 2008
Consumer insights
Editor’s Choice
Snapshots
Alexander McQueen
Eye On: Luxury
Right Light
In-Store Technology
Product Spotlight
New York Report
DDI’s NADI Show Preview
New York Retail
New York Restaurants
Calendar
Advertisers
Classifieds
Shopping with Paco

Display & Design Ideas - December 2008

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