Another take on budgeting for clothes
TEXT OF INTERVIEW
Doug Krizner: Last week, we aired a story on how the fashion world is dealing with these tough economic times. Marketplace’s Jill Barshay spoke with luxury men’s wear designer Jane Barnes, known for her $300 shirts. Since the slowdown, Barnes has been asked by her customers to make more shirts under 200 bucks.
The story prompted a reaction from listener Britt Davis in Buies Creek, North Carolina.
He joins us now. Britt, what did you think of the story?
Britt Davis: Well, I think what I had a chuckle about is the context of bringing $300 men’s shirts down to a more affordable price point of, say, $200. And you know, looking at my personal budget, I would hope to spend a total of $200 on say, five, six or seven shirts.
Krizner: When you consider the fact that the economy is slowing down, does it force you to really begin to adjust the way you’re spending money on clothing?
Davis: Certainly. I know within my family, we certainly keep an eye on sales. I think my wife and I have focused on more classic lines, if you will. Things that we can get more than one season out of. I think it’s easy to be distracted when you’re in the mall or other shopping centers to add things to your shopping cart and add things to your bill that you may or may not really need.
Krizner: So here we have the government passing an economic stimulus plan. Is there any chance that you’ll take a portion of your rebate check and spend it on clothing?
Davis: Oh absolutely, absolutely. I suspect we’ll try to save a little bit of that, but looking ahead, I suspect we might spend upwards of 50 percent of that on clothing for next holiday season.
Krizner: Britt Davis, director of development at the law school for Campbell University from Buies Creek, North Carolina. Nice visiting with you, thanks so much.
Davis: Thank you.
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