Shall we coin a new term here? The Auster-ista! Certainly still more fun than the recession-ista of 2008-2010 but she's definitely a bit of a stickler on spending. BOO! Accordingly going to rename Sale Season to Guilt Season this year. Those who were oh-so-tempted to flex some Amex muscle on the Net-a-porter and Barney's Sales, BUT refrained, will understand exactly what I mean. Such a shame as I love these sales. However, as someone who follows markets all day, I simply felt a bit too guilty indulging while markets are so displaced. That said, if more people are on the same page, then our beloved luxury stocks may be looking shaky.
Please note, shaky not broken. Listen, I believe conspicuous consumption lies in our core for many of us. However, if we're hearing the term 'bespoke' extend beyond closets and into individual money-saving plans, the sector will likely take a breather. We already saw Tiffany's disappoint on numbers, but imagine other luxury retailers will also have a more muted guidance. Anyway don't get too discouraged. Just like many of us discovered the joys of Target during our recession-ista phase, plenty of fun things for the Auster-ista! Start at Heirloom tonight where they'll be throwing in a Free Beer when you order a delicious (and generous) platter of Fried Chicken. How Austere!
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