Welcome to the clothing crunch. The beleaguered economy has worked its way into the nation’s wardrobe.
Marks & Spencer is reportedly slashing advert costs by 20 percent next year as part of a major money-saving effort for the company. After reporting a 34 percent drop in profits, the nation’s biggest clothing retailer will also reconsider the use of famous models, including Twiggy and Erin O’Connor, for campaigns.
This comes as budget-priced Primark reports a marked profit increase, up from £1.6 billion to £1.93 billion for the year to 13 September.
Primark has been voted the country’s least ethical fashion retailer, according to “green” consumers. M&S beat Debenhams and Asda to grab the most ethical spot. With the economy shaky, are customers valuing budgets over ideals?
Meanwhile, sales of organic food had sunk by one-fifth as of August – the first time in a decade when the upward sales trend stopped. As British shoppers’ bank accounts grow thin, it seems the luxury of buying based on health and ethical concerns is fading.
-Jill Hilbrenner
