Color experts (yes, there are color experts and they consult to marketing firms and fashion designers) know that our color choices are influenced by the economy. When things are rough, americans get colorful! We like to buy brightly colored things in a down economy, its a form of retail therapy. Unconventional colors typically cost more, our researchers note that during bad economic times consumers spend less for everyday necessities but are likely to spend more for something "different" in order to feel better.
Retail analysts believe that people are willing to pay more for things that look special, in order to give themselves a psychological boost and allow people to feel some pride of ownership.
For instance, even though cars are not selling well right now, general motors has introduced new colors (bright blues and orange "solar flare") in the hope of sparking some demand. Kitchen appliance makers have jazzed up their lines, and showrooms tout today's kitchen with bright green appliances. I don't know about this part, they might be setting us up for buyers remorse. I did a lot of cooking on an avocado colored stove that my mom bought in the '70's, and trust me, a green stove does not age well. But, if you compare the date of the range's arrival to the dow jones average, it shows retail therapy was just as popular back then as a cure for the recession blues. Who says history doesn't repeat itself, take a look at these appliances from LG. I'm not going to rush out and redecorate my kitchen with these, but colorful clothes and jewels are another story!
For my jewelry line, we're looking at fashion trends for summer right now, as magazines have started planning their photo shoots for their summer issues. And, guess what, there is a lot of demand for brighter colors, the experts know we'll be looking for things that look exciting and fresh. I was asked to show some jewelry for a summer photo shoot where the model will carry new coach handbags, in their newest colors- teal and purple. Of course, our jewelry line for summer will complement colors like these. Color research is really interesting stuff, and very necessary when you want to sell things to shell-shocked consumers. We're not going to offer avocado crystals, but pink, turquoise and red jewelry is being designed right now. We've got some great, stimulating colors on deck for summer so we can do our part to make people feel better in a down economy.
Designers know they have to give consumers an added incentive to cross over the hesitation line and spend some money. And wearing some bright colors might actually be fun. I'm actually looking forward to this, as I was one of those people who wore only black outfits when the economy was flying, back then bright colored clothes didn't interest me too much. But, my new camera is pink! Hmmm. Maybe these researchers are on to something. Ciao.