Compared to 2009, the year 2008 was the toughest one for the retailers. The market had to see down turn tremendously because of the following reasons like recession through out the world, decrement in the value of the U.S dollar and a very tight credit environment. So, these factors led a much impact on the purchases of the customers.
During the year 2008, according to the National Retail Federation, holiday sales were decreased by 2.8% and the retailers faced a decline of 9.4% on the apparel and the accessories. During 2008, most experts believe that there is a decrement of about 30% in the fashion accessories. When compared to all the markets, the luxury market has decreased rapidly in the year 2008 because of the decrement in the earning. Almost 2008 was a big drop out for all the markets. The most adaptable companies were left out because of the down turn in the market. Upgrading the markets of the hand bags and the higher priced accessories also became difficult.
Because of the crisis in both US and the global academy, the trend changed from fashionable accessories to the comfortable clothes. Flaunted sloppy ski hats are being used by the young men, the foot wears from the companies of the Nike, Converse, Lanvin, Dior, Gucci produced metallic high top sneakers.
While coming to the jewelry items, the statement jewelry is most prevalent. Some of the items of the statement jewelries are the cocktail rings, bejeweled necklaces, chandelier earrings increased in number during the runways of autumn and winter by Balenciaga, Burberry, Lanvin, Missoni and Yves Saint Laurent. Different cheap copies of the popular products of designer baubles are available at the creative retailers of shops of the UK and US.
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