Consumer Behavior During Economic Downturns

Economic Conditions

• Pessimistic economic environments lead to reduced consumer spending, especially on luxury items.
• The 1929 Stock Market Collapse initiated a global depression that triggered mass unemployment lasting until the late 1930s or early 1940s.
• U.S. and French fashion industries suffered significant impacts, with U.S. department stores canceling orders. To adapt, designers lowered prices and introduced affordable ready-to-wear lines.
• During the 2008 recession, American consumers shifted towards inexpensive store brands and discount retailers, favoring basic apparel styles.

Subcultural Influences

• Subcultures create distinctive styles that may eventually blend into mainstream fashion.
• The "Black Is Beautiful" movement emerged in the 1960s, countering negative media portrayals of black beauty during the civil rights era.
• This movement promoted Afro hairstyles, becoming a widely embraced symbol of black pride in the late 1960s.

Social Changes

• Changes in women’s societal roles, including suffrage, significantly shaped fashion trends.
• The garçonne look, characterized by boyish silhouettes and menswear elements, symbolized women's growing independence post-World War I.
• Full suffrage for British women was granted in 1928, with earlier limitations based on age and marital status.
• The garçonne look, inspired by menswear, represented a progressive lifestyle for women pursuing social, economic, and political freedoms.

Impact of Entertainment

• Actors have historically influenced fashion, as seen in the 1950s with James Dean, who made jeans a youth culture icon through his film role in "Rebel Without a Cause."
• Apparel retailers must anticipate trends one year ahead to ensure consumer acceptance, with trends transcending fashion into various industries like décor and electronics.

Style and Design

• Style reflects a characteristic mode that typifies similar objects across categories, encompassing fashion, architecture, and more.
• Distinct styles, like "punk" or "Baroque," can be attributed to celebrities who establish their signature looks.
• Design is specific to fashion items and includes unique combinations of style elements. For example, the "hippie" style features fringe hems and tie-dye, while brands offer varied designs for hoodies.

Fashion Overview

• Fashion is a temporary style or behavior adopted by a notable segment of society, relevant across clothing and other consumer products.
• Categories of Fashion:
  • High Fashion: Limited availability, high prices, embraced by innovators.
  • Mass Fashion: Widely accepted, produced in large quantities, generally low to moderate prices.
• Fashion styles progress through a lifecycle of introduction, popularity peak, and decline, illustrated by the rise and fall of wide-shouldered jackets from the mid-1980s to mid-1990s.

Fads vs. Classics

• Fads are short-lived trends that gain popularity quickly and fade rapidly, often appealing to niche groups.
• Examples include miniskirts with leggings in the mid-2000s.
• Classic styles are gradually adopted and maintain relevance over time, showing slight variations without losing their core identity.

Fashion Trends and Historical Context

• New fashions generally evolve from existing styles rather than being entirely novel, often reflecting continuous innovations.
• Historical events, such as World War I, led to significant changes in women's roles and practical fashion, with an influx of women into the workforce.
• Other notable events like World War II and the September 11, 2001, attacks also spurred changes in fashion, though specific impacts remain unspecified.

This quiz explores how consumers change their spending habits under pessimistic economic conditions, focusing on the impact of historical events like the 1929 Stock Market Collapse. Learn about the effects on luxury goods consumption and the fashion industry in the U.S. and France. Test your understanding of consumer behavior in times of economic distress.