On Frugality

An interesting take from someone named Marshal Cohen, via Morning Edition this morning: consumers are now suffering from "frugal fatigue."

"We're tired of being so frugal with what we're spending and at the least expensive place."

"We" referring, presumably, to a broad base of retail consumers - or at least those who have frequented The Gap since 2008. The story then explains that high-end retailers like Nordstrom and Saks Fifth Avenue are doing well while The Gap's profits are sharply down. Now, the 'Dlog certainly has no privileged insight into retail economics, but let it propose an alternative narrative: that the current economic distress has fallen disproportionally on Gap shoppers as opposed to Nordstrom shoppers. Perhaps Cohen has some data to support his claim over mine, but this (surprise, surprise) was not mentioned on Morning Edition. Then later:

Cohen says a customer might buy one pair of fancy jeans that no one else has, and then buy underwear, socks and shirts from a discount retailer.

This could certainly be demonstrated with data, which I am sure Cohen has. But until the 'Dlog is supplied with said data, or at least a concrete assurance that such data exist and fit the narrative (your 'Dlogger is a lazy man), the 'Dlog wages class warfare. Cohen's is a narrative in which economic distress affects us all, and in our emergence from the downturn, luxury shopping is returning. But were this the case, why the dowturn for The Gap? Shouldn't its profits be bolstered by the 2009 Wal-Mart shoppers who, feeling the economic recovery in their weightier wallets, splurge on some higher-end merchandise, themselves? Or are the interests of the haves and have-nots not so aligned after all? Are the former doing okay while the latter continue to struggle?