Recessionistas

As an ethical entrepreneur the retail sector isn’t looking too good at the moment. Everywhere I look shops are advertising massive discounts. Looking at Petticoat Lane, we are perpetually in sale because this is our mantra and the whole point of recycled fashion is to make a difference to your environment and wallet. But the problem is I’m seeing discounted signs consistently through all retail avenues.

It seems to be a continuous effort to rid stores of excess stock as consumers go on strike. Bulldozing their customers to BUY!  So what’s going on? The Australian Bureau of Statistics released the June 2011 Retail Trade data showing that retail has receded in the second consecutive month- retail is now in recession and things are getting worse. Companies are shutting their doors.

So what does all this mean? There are no demand pressures driving inflation at present and the retail sales figures suggest consumers are truly restraining their spending pattern after a decade of bingeing on credit and building up record levels of household debt.

Haven’t we all just become a little tired of spending money on “empty new stuff?” I think the glut is over and people are looking to be mindful of their spending habits on things that count. Don’t get me wrong I’m not happy these businesses are closing with people losing their jobs but it’s a sign of changing times and this type of selling behaviour couldn’t sustain itself forever. It could be time to think differently.

Petticoat Lane is the new kid on the block, being naive and inexperienced allowed me to blissfully drive my recycling idea with no immediate threats- I didn’t for see the retail crisis and wish I could sit here and tell you “I predicted this” but that’s not the case- I got lucky, this was something I was passionate about, a gap in the north Queensland market and I was willing to take a risk.

One thing I have observed working in retail, people will always want to try on the product no matter how detailed the web measurements are. This will always be the case. It’s great to have choice and diversity but it’s the survival of the fittest, you have to modify quickly to the changing economic climate. I do feel for those larger companies but it’s time to trim the fat and get back to basics.

The biggest challenge for me starting up Petticoat Lane was changing peoples’ stereotypical images of recycled fashion. People think it’s just cheap and undesirable. I was even told “you can’t use the word recycled”, nobody will buy your products. Ridiculous, it’s honest and I was adamant to use that word and thought if I don’t start using it now, how will attitudes ever change? People with passion can change things for the better, I want things to change just like you, I want to somehow stand out from everyone else and make some sort of difference. The retailers who survive this crisis are the ones who are willing to honour their core values, enabling consumers the power to think differently about what their dollar is buying.

Check out some eco visionaries....

Trashion- fashion made from trash like this dress made from newspapers

Adrinana Bertini 'Condom Dress' her target was to rock peoples ideals about fashion and voice safe sex

Speedo hired student designers to create swimwear made from recycling their old materials from past collections

Kate Middleton is bucking the trend and reusing her outfits for major events. She wore this ivory lace outfit to two royal weddings which is unheard of