Chicago’s WGN News reports U.S. retailers saw an unexpected 1 percent jump in January sales as post-holiday shoppers scaled the racks for bargains.


Hello, I’m Charlotte Bellis and you’re watching Newsy.com.

Despite the rise in retail sales however, fashion frugality is a growing trend worldwide. 

The global economic downturn has given birth to a new kind of shopper: the “recessionista.”

We’re following WGN, Russia Today, India’s Business Standard, FOX All Access, and the Toronto Star.

Russia Today describes recessionistas as surprisingly optimistic:

“Now you hear the word depression also thrown around when it comes to the U.S. economy –  an economy that was once considered pretty stable and safe, but recesssionista is someone who refuses to be depressed and instead is making a cool trend out of saving money, imagine that.” (Russia Today)

India’s Business-Standard online highlights two fashion buzzwords born out of the global downturn:

““Chiconomics" and "recessionista" … were named the top fashion buzzwords of the upcoming fall/winter 2009-10 season by the Global Language Monitor.” (Business Standard)

Fashion expert Katlean De Monchy gives us a historical perspective of the economy’s effect on clothing styles and trends. It’s called the hemline theory-- when the economy gets worse hemlines get longer.

“Did you actually know that an economist came up with this theory after he saw how women’s fashion changed radically after the roaring 20s gave way to the Great Depression.”
 (Katlean De Monchy)

 

Even Hollywood producers are acknowledging the trend.

Producer Jerry Bruckheimer discusses this weekend’s debut of his film “Confessions of a Shopaholic,” where the main character struggles with mounting debt and a shopping obsession.

FOX All Access brings us the interview:

Reporter: “So this really serves as a cautionary tale?”

Bruckheimer: “It sure does and it shows you how you can get out of it too. The whole world can take a lesson from Rebecca Bloomwood, and how she solves her financial problems.” (FOX All Access)

The Toronto Star gives their perspective on the role Bruckheimer’s film plays in this current economy.

“The movie is now an anachronism. The entire language of fashion is shifting, and the new frugality is dictating the vernacular… And that has led to new terminology, too. ‘Shop till you drop’ has been replaced by ‘shop your closet.’” (The Toronto Star)

How do you get your steals and deals? Will the recessionista trend last? Let us know what you think, and please be sure to check out our sources.

I’m Charlotte Bellis for Newsy.com, where multiple perspectives help provide the real story.

Business News

Confessions of a “Recessionista”

February 13, 2009
While retailers reported January sales increases, the term "recessionista" is emerging to show fashion frugality is a growing trend. Newsy.com looks at the global response.
   
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