I read a little article last month that pleasantly surprised me. People are spending less on clothes. Trends suggest that we are less interested in buying clothes than we have been in decades. While we’re spending more money than ever, those dollars are being directed elsewhere, typically more toward food and away from fashion, where retailers are reporting decreases in profit.
“A widespread movement that prioritizes conscientious shopping over conspicuous consumerism…has translated into demand for increased transparency, authentic brand values, sustainable production processes, an embrace of the sharing economy, and unique retail experiences, among other things.”
How cool is that?! People are realizing it’s a waste of money to buy cheap, poorly-made clothes, and wanting something better for themselves and for the world. They’re more willing to make do with what they have, accessorize rather than replace, celebrate vintage looks, shop second-hand, and swap clothes around with friends. It’s like the world is reading my mind!!
What do you think? Are you budgeting and spending less money on clothing these days? If so, what are you spending it on instead?