i know i have curbed my own spending (temporarily? who knows...) but a look at last year's numbers that I spent on Hermes still has me reeling. i'm definitely feeling the effects.
It Must Be A Recession - SA Keeps Caling
- Thread starter caviardreams
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I definitely believe people are more selective and not just jumping like in the past. When I first started buying Hermes (less than a year ago) I bought the first Birkin offered to me just to have one. Now I have been offered so many colors from so many different stores, I would never just settle again (not at these prices). I truely believe people (in the U.S.) are thinking twice these day before spending that kind of money on a bag. As far as a two year waiting list for a Birkin please, yes for special skins but not for basic colors or leathers.
Let's face it, everyones investment income is off and prices are higher for everyday living. Going to fill the car up is $70. People are holding back on luxuries in general. I have had people complain that their business is off if they are in the builiding trades, home decor etc. This isn't going to lower the Hermes prices, but it might keep them from over expanding.
yep for me...a matter of principal for me. It just makes me feel crazy to think a 35cm birkin is $8,400 before tax...so you are talking near 10k for a birkin. just can't do it.
I know for a long time each year prices have gone up 10% at least...so I feel priced out of the market...meaning I just don't think I can spend that anymore....well..okay not ever again but just more spaced out over time.....
and for me its not the economy thing...its the fact that the prices are just getting too much...on all designer brands.
same with shoes...my Manolo lady has been showing me shoes that would have cost $650 or less a few years ago and when they are $800 plus I shake my head and say...you know...I have the money but I won't do it...that is just toooooo much....
and the whole doing it to adjust for the euro, etc blah whatever. I know they do it to adjust for cost...and to make sure they (being most design houses) make the same or more amount of money.
same with shoes...my Manolo lady has been showing me shoes that would have cost $650 or less a few years ago and when they are $800 plus I shake my head and say...you know...I have the money but I won't do it...that is just toooooo much....
and the whole doing it to adjust for the euro, etc blah whatever. I know they do it to adjust for cost...and to make sure they (being most design houses) make the same or more amount of money.
If SA's are finding fewer established clients wanting Birkins; this may be good news for people thinking about purchasing from re-sellers.
They can purchase from an H boutique and pay retail; and won't have to pay the huge mark ups!
The plus for Hermes will be more new clients!
They can purchase from an H boutique and pay retail; and won't have to pay the huge mark ups!
The plus for Hermes will be more new clients!
I agree with guccigal07...I am sick of stores (NM comes to mind), and there aren't a pair of shoes that you want under $500.00. If you think you may keep something for a LONG time that's one thing...but, most of the things are so trendy that you won't be wearing them next year. I've cut way back on what I will spend this year.
ITA
Others may not feel this way but in part for me, I've re-evaluated my priorities. I just don't feel as nonchalant as I used to spending $$$ on clothes, bags and other "non necessities" when some people are losing their homes and having a hard time just paying bacis bills like utilities. Hearing and seeing what is going on in the country financially has really made me look at the way I use my own money.
ITA
Exactly. When neighbors are having their homes foreclosed. I just can't hit my Hermes stores with the same carefree ease as before. Just because it doesn't affect me directly, doesn't mean I don't have any feelings towards this whole financial mess.
I know that historically, luxury goods aren't affected by recession. But still, when everything else is drowning in recession, how can some shoes, clothing, and bags experiencing such a economic boom and increase in value exponentially? Beats me.
Even though the credit crunch is prevalent in the US, when US consumers stop consuming, it will affect Europe, Asia, and other countries too!
Does anyone remember the years 2001/2002 on ebay?
Resellers used to sell a BNIB 35 Leather Birkin for $8000 or so.... See their current prices....It is the double, or so...
H bags retail has doubled too , in the same 6/7 years period.... How exagerated is this ?
Resellers used to sell a BNIB 35 Leather Birkin for $8000 or so.... See their current prices....It is the double, or so...
H bags retail has doubled too , in the same 6/7 years period.... How exagerated is this ?
I felt so proud of myself. I just turned down not one, but TWO, gorgeous birkins I would have pounced on a year ago. I just want the perfect combo now, and not just any one that comes along... This is coming from one who lacks self-restraint. yeah for me!!!
Kelly32 Yay for you! I have to learn some restraint too. Turned down sooo many lovely Kellys, looking for the perfect Birkin in Paris and waiting for my PO Birkin. Going to local H tomorrow to collect some china, must be sane about it...no impulse buys.
Periogirl28, I think turning down items that you don't LOVE is a great idea. Have you seen the new orchidee china???? it's stunning. hard to resist. Makes me want to get married again all over..just for the china!!! 