After a long recess from shopping, it felt like therapy today when I got to play dress up at an exclusive DC shoe boutique. My eyes danced over the new Lanvin, McQueen and Chi Miharas. Like the old Loony Toons cartoons, the little devil on my left shoulder said “do it, do it, do it”, while the little angel on my right said, think about the thousands of dollars in private school fees you have to pay next week for the baby who is not even two yet.
Caught in a decidedly stylish Freudian quandary, I managed to find a space between my id and superego to purchase a sexy pair of strappy Givenchy booties and a fun, yet practical pair of patent Ellen Shields wedges.
It was liberating. I slung the large bag on my shoulder, put on my big shades and a fierce sachet onward to my car when I caught the dirtiest gaze from a disheveled looking older lady on the corner. She had a sign that said something like “HELP, I’m homeless and could use something to eat”. I melted into a puddle of guilt. All of a sudden my Veblenian splurge, though at 50% off didn’t feel so great.
This episode took me back to my grad school research days in London when I pondered the role of the consumer psyche as a predictor of luxury fashion brand purchase intentions. 10 years ago, hedonistic conspicuous consumption was the name of the game, while today value, investment and responsibility are the tags.
As we wait for the economy to recover, I wonder if our consumer psyches ever will. Having witnessed this type of widespread hardship for the first time, I doubt if many of us will revert to our lavish ways. We may invest in one Herve Leger LBD rather than ordering the same silhouette in 5 different color ways. We may consider whether or not the Marni jacket will still be “in” two seasons from now before plunking down a mortgage payment for it. Only items that are truly unique, authentic and resonate with the multiple facets of the refurbished consumer psyche will win in the coming seasons.
With consumers sharply in focus now, the whims and indulgences of the industry will give way to real quality and ingenuity. I can’t wait to see what Jack and Lazaro serve up for SS 2010 and what Rachel Roy, McCartney and Lanvin have for fashionable “mommypreneurs” like myself to mix in with great finds from J Crew and even Target.
Diane Von Furstenberg put it best when she said “everyone had been too greedy, and everyone thought the party was forever”.
After getting over the initial shock of the global recession, I have learned to hunt for haute bargains and appreciate the GWPs at my favorite makeup counters.
Better late than never, right?
