The Associated Press says old stigmas of shopping for price have faded away in tight economic times. People are buying store brand items in the grocery stores, and shopping Goodwill stores for clothing.
But the article might’ve missed when it tried to show that even the wealthy are “slumming it,” too:
Jaime Palmer of Dallas used to go to Neiman Marcus and spend as much as $300 on dress shirts by such high-end designers as Hugo Boss and Thomas Pink.
Now, Palmer, a 36-year-old a managing partner at an investment boutique, buys from a new label called J. Hilburn, which customizes dress shirts for a much lower price – $120. As for his suits, he’s turning to outlets.
“You don’t get the service. They don’t bring you coffee,” he concedes. “It did have a bit of a stigma for me.” But living through the Great Recession has made him reassess how he shops, he says.
How have you changed your shopping habits? Aside from giving up coffee, of course.