American consumer spending has been slowing over the past few months, and while the numbers still reflect growth, it could signal a softer year for retailers. Total retail sales inched up just 4 percent for the first five months of this year versus the same period in 2006, the weakest showing in four years, according to U.S. Commerce Department figures.
The 2007 WWD "Where America Shops" survey revealed that 45 percent of the women polled said they buy fewer clothes today than they did a year ago, compared to 35 percent who said they buy more. Moreover, 21 percent said they expect to buy more clothes in the next six months, compared to 27 percent with that hope last year, and 21 percent said they think they'll buy fewer clothes — but that's up by 4 percent from last year.
Not surprisingly, the survey revealed that money remains a critical factor in consumer shopping decisions. For instance, 2 percent more people said the price of gas was affecting their shopping expectations this year than in 2006.
When asked what was the most important store quality, price won out, and reflected a 1 percent rise from last year.
Among Internet shoppers, there was a 2 percent increase in women who said they shopped online because it is more economical, considering the price of gas, but the most important thing saved by shopping online was time.
Department stores appear to be as strong as ever, with 70 percent of the women saying they regularly shop this type of store, up 2 percent from 2006, compared to 59 percent who said they regularly shop discounters — a 6 percent drop from a year ago.
Traditional malls are still the preferred shopping destination, with a 57 percent share, even though that's off a point from last year. Downtown stores gained 2 points to 10 percent, while the Internet was up one point to 15 and strip malls held steady at 19 percent.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
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25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
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