5 lessons everyday retailers can learn from luxury fashion brands
Does the “rational” fashion consumer really exist?
Before fashion became my focus I was actually a student of economics (go figure !) and the study of economics teaches us the following about our shopping habits….
- The consumer is a rational person, who tries to use his or her money income to derive the greatest amount of satisfaction, or utility, from it. Consumers want to get “the most for their money” or, to maximize their total utility. Rational behavior also “requires” that a consumer not spend too much money irrationally by buying tons of items and stock piling them for the future, or starve themselves by buying no food at all. Consumers (we assume) all engage in rational behavior.
I suppose I wanted ask… does this theory ever apply to the fashion industry? – Hannah Brooks

















