The increasing frugality of young people also is disconcerting to the luxury market, because a 25-year-old who shops at Gap would traditionally shop at Tiffany & Co. (TIF), Nordstrom or Saks Inc. (SKS) decades later, said Pam Danziger, president of research firm Unity Marketing in Stevens, Pennsylvania.
“We now have young people who aspire to own more middle- class houses instead of mansions,” Danziger said in a telephone interview. “We have a group of people who are seeking only to live within their means.”
maybe the gap should go back to being inexpensive and good, like it was in the ’70s and ’80s?
It’s still inexpensive but the quality of the men’s stuff at least is pretty bad. I do almost all of my shopping at J. Crew (sales only) and Uniqlo.
I’m more interested in the idea of a generation deciding to live within their means. I don’t know if that’s the case! I would say most people my age live paycheck to paycheck, but they’re also paying L.A. rent.