Friday, August 14, 2009

Paying Full Retail Instead of Seeking Discounts

This post on retailwire highlights how many luxury fashion designers are to get consumers over the notion that spending a premium for a product is a bad thing. In order to help consumers get out of this mindframe over 700 stores will stay open in NY during Fashion Week until 11:00pm. The designers who will be showcasing and participating in the stores have all agreed to not cut prices like the rest of discount outlets and retailers.

The post though highlights that consumers since 2007 have viewed luxury in a different light. According to a 2007 Conference Board study most agreed that, "Luxury is less about the material things one has or one owns and more about how one experiences life, a sense of happiness and satisfaction."

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