CRS 231-The affects of the recession on home fashions and apparel

The effects of the recession that we are in have been devastating for millions of families in America. We have recently seen the decline of major corporations, the increase in grocery and gas prices, and the foreclosure of homes. Personally, my family had to cut back on vacations, eating out, and shopping. The housing crisis today has also affected home fashions in a big way.
It’s no secret that retailers have been drastically affected by today’s economy. Disposable income that people accumulated often would be spent on apparel or home fashions. The money that was once there simply is not anymore. Americans are more focused on putting gas in their cars and making ends met. It is unsettling to hear this because as a fashion merchandising student who is graduating in a year, I often wonder if there are going to be any jobs out there for me, will this recession still be impacting retailers nationwide? I believe that the only major retailer that has had any growth in sales is Wal-Mart. People that use to shop at department stores or Target are now looking for lower prices at Wal-Mart. Moreover, the housing crisis has placed a major role in this recession. If people aren’t able to afford mortgages then they certainly can’t afford home fashions. Pier 1 is an example of a home fashions retailer that has taken a major hit.
I personally can’t think of the last time I went shopping and I used to shop monthly for items to put in my apartment or apparel. For the sake of these retailers and maybe a future job for myself, I hope these retailers can stay afloat in such a hard time.