The housing crisis has a direct correlation to the home fashion retail industry. If a family is barely able to afford housing then how would they be able to furnish there house? And if this is so, then the home fashion industry is going to do poorly.
One of the main issue in the recession that we are in is that families are having to downgrade on many things, housing being one of the major units. So many families are moving from pricier neighborhoods to cheaper neighborhoods, or moving from houses to apartments, etc. And most of the furnishing that they had before is being reused because they do not have the money to buy new furnishing. This is hurting the home fashion industry very badly.
The home fashion retail industry is trying to do everything in the power to make industry more affordable to people at this time. This is why you see a lot of brand name lines like Martha Stewart selling their collections at discount stores like Walmart. The industry is also using brighter colors and design more now than before to lift people's spirits in this time of recession. I feel like these changes are more than necessary if this industry wants to survive during this housing crisis.
Friday, November 21, 2008
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