LESS IS MORE:

The “less is more” strategy of the recession is affecting luxury fashion as well. Just like Steven Kampann in the film industry who recently produced a film with a limited budget forcing him to be more creative, Saks Fifth Avenue, a luxury department store in the fashion industry is now using the same strategy. In the past, Saks would sell its unsold items of the season at a huge discount.  This had a psychological effect on its customers who had become accustomed to seeing luxury items on sale, which made it difficult for them to buy the same item regular price. This is all changing now since Saks is adopting a new policy of carrying fewer items and selling them at full price. Saks believes this new policy will be less risky than stocking up on items. Afterall, luxury items are supposed to be exclusive; therefore, with fewer items, the demand and value of them should increase. This may aspire the type of person who is fashion compulsive to buy something.

For those of us who are not fashion compulsive, we are learning to live with less and we are finding that we can live with less. Since for whatever reason, we choose to save money or not purchase something, we find ourselves getting along without them. We begin to realize that we don’t need things, and we realize this because we are forced to.