There are several ways that fashion can affect the economy. However, the economy also plays a large role on the effects it can have on fashion and the retail world. When there is a large downfall in the United States economy it takes a toll on the retail industry. Consumers are going to cut back on their carless spending and consumers will start buying only their needs not their wants. An example of when this occurred would be in the years 2007-2008. Retail stores had noticed a 5%-10% drop in their credit sales because of the way the economy was. If the economy is in a bad situation consumers will adjust their spending habits to try and spend less money.
"AccuVal | Insights | Featured Articles | The Retail Ripple Effect of U.S. Consumers." AccuVal | Insights | Featured Articles | The Retail Ripple Effect of U.S. Consumers. N.p., 01 Mar. 2008. Web. 09 May 2013.
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