The Shame Of Shopping For Luxury

(CBS)  Even with the economy in deep distress, those in the upper-strata can still afford to shop for the priciest items and labels.

But, reports CBS News correspondent Bianca Solorzano on The Early Show, they don't want to flaunt it while so many others are facing such tough times, so they're spending the big bucks -- on the down-low.

People such as 36-year old Robin Harris, a self-described shopaholic who works in the financial services industry, while still shopping a lot, and only for the best, is trying to avoid a new designer label -- Luxury Shame.

"The simplest definition of luxury shame," says Newsweek Senior Writer Johnnie Roberts, "is an embarrassment of riches. ... Many of them are still shopping. They are closeted conspicuous consumers."

Many who don't want to be seen seeking their designer names are saying goodbye to shopping at fancy retailers, and hello to the Internet, with sites such as Ideeli.com, Solorzano points out.

"It comes to your house in a very discreet way. You could be ordering a book. ... It's a more subtle way to shop without flaunting in everyone's faces," Harris explains.

Many of these covert shoppers are hitting invitation-only sample sales, where you can get expensive goods for low-end prices, Solorzano adds.

Could this "shopping shame" mean the end of the $175 billion dollar global luxury goods market?

"The only unknown," says Newsweek's Roberts, "is whether this is a permanent behavioral change."

[mytoosense]

There must be thousands of business owners out there who are second guessing their past support of the Republican party.

How did they ever believe that diminishing the earning power, thus the spending power, of the middle class in America would be good for business?

The orgy is over and the bill has arrived.

[rrozsa-2009]

If you haven''''t noticed, CBSNews tends to publish divisive articles which promote huge fights in their comment pages over class warfare, political mud-slinging between the conservatives and liberals, racial strife (via references to "the racial card being played"), and gun control, on a regular basis.

---- Posted by RRozsa at 12:22 PM : Jan 02, 2009

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Don''t get me wrong -- I''m not necessarily saying that CBSNews'' trolling for militant mud-slingers in their comments pages is a bad thing -- I join in myself from time to time for the fun of it! Just sayin.......

[rrozsa-2009]

It''''s great if you''''re doing well even in this economy, but be mindful of flashing money around in front of people who may have hit hard times themselves.

---------Posted by mdalerwill at 03:11 PM : Dec 31, 2008

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I agree in general principle with what you are saying, but in this case, I can''t really say that the subjects of this article are "flashing their money" around -- they are buying over the internet to avoid just that sort of "flashiness". If anything, CBSNews is the one promoting the class envy and so-called "luxury shame".

If you haven''t noticed, CBSNews tends to publish divisive articles which promote huge fights in their comment pages over class warfare, political mud-slinging between the conservatives and liberals, racial strife (via references to "the racial card being played"), and gun control, on a regular basis.

[rrozsa-2009]

tinyurl is exclusive to those with tinybrain.


-------------Posted by eggy1620 at 02:56 PM : Dec 31, 2008

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I understand that you''re frustrated with "justaguy", but... wow, what a silly comment! Just so you know, "Tinyurl" is a free service that allows you to truncate large URL''s into a much smaller one, so that you can share web siteks with others without their having to paste really long web addresses into their browser. Lots of people, both smart and stupid, use Tinyurl to share web addresses in a convenient manner. Sheesh!

[runningralph]

I checked my holdings with Fidelity today. Shrunk a little- about 7 or 8%. I guess my real estate has gone down in value too. But I''m still working, still doing business. And being conservative, I don''t spend much. Gas prices are down, cost of living is down. I''m doing OK. I can still do target practice. I reload my own ammo. I go to a honky-tonk that plays oldies. Life is good. I feel sorry for the rest of you chumps.

[cwbyht]

To heck with that, I''ll buy anything I want anytime I want. And if some scum panhandler gets in my way, I''ll stomp him with my Gucci loafers, and spit on him!
Long live Dolce and Gambana!

[barbaram99]

I ''member the old days. Yep we wore hand me downs. We got new uderwaer and shoes. I wore my shoes out faster than my peers. I still wear clothes I got years ago. I met a girl on the once and she told she would not wear but name brand things. Yep ye will. Ii is true things are not made as well as years ago. I don''t worry about being in style. Some things are poorly made and are junk.I was eating at a soup kitcken and this lady comes in all fancy ete. She was out of place. That woman knew better. Ye earnt it fine. I am poor. I don''t keep up with the jones. Never have.

[liberalme]

How much of that "luxury" is made in America?

[mjm117]

Maybe you don''''t. And who will care when it''''s YOU who is hungry or in need of medicine????





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Posted by httpwwwnews at 02:56 PM : Dec 31, 2008


Never said I didn''t, but I don''t think people should be shunned for not "sharing" their fortunes.

[terrapin78]

Poor GM...they had to shut down production and halt construction of a new plant

Tell me this, why did GM feel like they should begin building a new plant? Did GM auto sales over the last few years justify that??? Come on now.

They should just go design another Hummer...

Posted by mjm117 at 01:16 PM : Dec 31, 2008


Well, the plant that was being built was to provide the batteries needed for the Chevy Volt. Which could be the salvation of the comapny.

IMO, this is a tragedy.