In September and October, sales of women’s apparel fell precipitously compared with the same months the year before. They were down 18.2 percent in October, for instance, compared with a decrease of 8.3 percent for men’s apparel, according to SpendingPulse, a report by MasterCard Advisors. The downturn, analysts said, is being exacerbated by unexciting fashions in stores.
And a survey of shoppers’ intentions by the NPD Group, a consultant firm, suggests that such cutbacks may continue through the holiday season. Some 61 percent of mothers said they would shop less for themselves this year, compared with 56 percent of all women and 45 percent of men.
Reyne Rice, who studies toy trends for the Toy Industry Association, said mothers do at least 80 percent of the holiday shopping in a family, and in past recessions they have been the first to do without. They tend not to get a new coat for themselves, Ms. Rice said, so they can provide for their children.
Despite all these efforts, many mothers will nonetheless end up cutting back, at least a bit, on spending for their children. Historically, the toy industry has been more immune to economic downturns than other industries, but this year, analysts expect it to feel the pinch.
“While times are difficult, the last thing parents are going to cut from their budget is the Christmas present for their child,” said Gerald L. Storch, chairman and chief executive of Toys “R” Us. “We are not seeing price resistance for the hot toys.”
Article Link (NY Times)