LA Times: high end and bargain shops winners; middle class stores losers

Greg · 08-21-2008, 01:25 PM

The lead stories in the business section of the LA Times yesterday and today highlight an interesting aspect of our current economic downturn.

Shoppers are going to the extreme ends of the shopping spectrum. Luxury stores and bargain outlets are doing booming business... but middle-of-the-road stores like high end department stores Nordstrom or Saks are suffering.

Yesterday's article, "On Rodeo Drive, the economy's booming", talked about how business is a-okay at luxury stores.

According to one owner:

Quote:

Most of my clients have those black American Express cards, the ones made out of titanium. They don't worry about their mortgages. They don't worry about recession. They just want to buy.

Today's article, "Upscale malls reach out as consumers pull back", talks about how shoppers are taking their business to bargain discounters like Ross and Marshalls.

Quote:

Middle- and upper-middle-class shoppers, once a mainstay for upscale stores, now often shop below their means instead of above them -- choosing Wal-Mart over Nordstrom, perhaps, experts suggest.

Have you changed your shopping habits in light of the souring economy?

lucille · 08-21-2008, 02:24 PM

No, not really. I still shop Target, Macy's, Nordstrom, but I try to buy things with some longevity rather than for status. I haunted the outlet stores like TJ Maxx and Tuesday Morning even when we had lots of expendable income. I will stop buying things or buy used before I shop at Walmart or Kmart, they just do not make economic sense. Their products are inferior and in the long run are less of a deal than a different product elsewhere. I guess my reaction has been to buy less.

khorrell · 08-26-2008, 06:45 AM

I've always been a bargain shopper, too. It would kill me to buy from one of those upscale department stores unless it was on super-duper clearance. I would rather buy from the consignment shop, thrift store, or store like Marshalls or Ross. I haven't changed my shopping habits, but we've never been big shoppers and our income is amazingly stable.

08-21-2008, 02:24 PM	#2
lucille Senior Member Join Date: Dec 2007 Posts: 487 Reputation: (33)	No, not really. I still shop Target, Macy's, Nordstrom, but I try to buy things with some longevity rather than for status. I haunted the outlet stores like TJ Maxx and Tuesday Morning even when we had lots of expendable income. I will stop buying things or buy used before I shop at Walmart or Kmart, they just do not make economic sense. Their products are inferior and in the long run are less of a deal than a different product elsewhere. I guess my reaction has been to buy less. __________________ Dark Style Blog http://darkstyleblog.blogspot.com/

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08-26-2008, 06:45 AM	#3
khorrell Senior Member Join Date: Jan 2008 Posts: 424 Reputation: (60)	I've always been a bargain shopper, too. It would kill me to buy from one of those upscale department stores unless it was on super-duper clearance. I would rather buy from the consignment shop, thrift store, or store like Marshalls or Ross. I haven't changed my shopping habits, but we've never been big shoppers and our income is amazingly stable.