Quality or Quanity

On January 22, 2009. By Fran, under Industry News.

The old adage has become an important question retailer’s for 2009. Long gone are the days of shop till you drop, focusing more on durability & quality as consumers head into the New Year. Although shopping bags may not be busting at the seams, the luxury market is seeing a trend of the big purchase bearing the weight of weak sales.

Today’s high-net-worth consumers are forgoing novelty for authenticity, making good on luxury retailers exclusive offers & sales. Consumers are making smart choices to spend money wisely on significant purchases like jewelry, vacations, cars and personal goods.

“Luxury shopping is not disappearing, but changing” – says an insider

Don’t expect lines out the door at Gucci, just yet. As the economy worsens, U.S. unemployment has climbed over 7% for the first time since 1993, Consumers will pull back a bit, keeping purchases on big ticket items steady but giving up the four or five smaller non important items.

Quality outfits such as Bloomingdales and Nordstrom’s have been the first to break ground, offering sales on many designer labels. Luxury brands once immune from the sale rack, are slowly introducing luxury to the everyday smart consumer.

Industry Groups

On November 13, 2008. By Fran, under Industry News.

AIAG: Automotive Industry Action Group

ANSI: American National Standards Institute

AAMA: American Apparel Manufacturers Association

ASCII: American Standard for Information Interchange

ASC: American Standard Committee

ATM: American Textile Manufacturers

DISA: Data Interchange Standards Association

EDIA: Electronic Data Interchange Association

EDICA: Electronic Data Interchange Council of Australia

EDICC: Electronic Data Interchange Council of Canada

EDIFACT: Electronic Data Interchange Format Administration Commerce & Transport

EIDX: Electronics Industry data Exchange

GMAIC: General Merchandise and Apparel Implementation Committee

HFCA: Health Care Finance Administration

ISO: International Standards Organization

NRF: National Retail Federation

TDCC: Transportation Data Coordinating Committee

TDED: U.N. Trade Data Element Dictionary

UCC: Uniform Code Council