How are the rich changing their attitude towards shopping in this new economy?

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***You MUST watch this video … the link is at the bottom of this post***

Everyone and their dog has an opinion on the new state of the economy. You cannot turn on any television station or radio station without hearing about the crumbling economy, company bailouts and general public fear. Most newspapers or online newspapers and even fashion magazines have been talking about how consumers will considerably cut back on spending for the holiday season and they are also talking about how many regular people are concerned about they’ll be able to afford to buy gifts this year.

There are record drops in sales for most major retailers around the world and many prestigious brands are seeing some of their worst years to date.

If you take a look around, you’ll notice that pretty much every retailer has a sale going on this early in the season to try luring frightened consumers into parting with their money.

The middle-class is afraid and not spending while the lower-class is just simply panicked and unsure how they’ll make ends meet. In my view, this begs the question: “How are the rich dealing with this economy and has all this gloom and doom talk affected the way they spend their money?”

During my research, I found a video that says it all. I could obviously sit here and recap all the details of this hilarious video about how rich New Yorkers are dealing with the turn of economical events, but since a picture (or video) is worth a thousand words, I’ll let you see and hear for yourself.

Just a cautionary note … I’d pay close attention to what these people are saying and I’d pay REALLY close attention to what the blonde woman wearing the camel colour coat with fur collar says when asked about “Century 21″.

Century 21 (my favourite discount store in NY) is a Mecca for me and I NEVER miss out on when I’m in New York. I usually get there when the store opens and since I don’t have the patient to spend time in all the departments, I usually focus on handbags and accessories. I usually forfeit the shoe department all together because it takes sooooooo much time to actually get to it since the renovations and I usually hit Macy’s or Bloomindgale’s shoe sales instead.

All that to say, that I know Century 21 all too well.

You’ll be amazed at some of the responses these New Yorkers have to give when the host asks how the economy is affecting their shopping habits!

You’ll catch the video here: How are the rich changing their shopping habits in this new economy.

Photo from trialsanderrors