It’s very obvious to see that accessory specialty stores and department stores are struggling. It seems as though many of these stores are having many sales to encourage people to shop more. It seems as though Macy’s is advertising a “special” sale every week.
Although the accessory industry has been struggling, I think the home fashion industry has suffered the most. Because of the housing crisis, many people haven’t been purchasing homes. When one purchases a home they usually decorate it. The lack of buying homes has caused people to decline on spending on home fashions.
People are just not spending as much money on things as they have in the past. The housing crisis is very financially draining, and is damaging our economy.