Barneys New York in Scottsdale, is this a sign our economy is improving?
I’ve been reading all the hub bub around the new Barneys New York opening at Scottsdale Fashion Square. Surprised as I may be, I am happy to see it opening. Not because I have plans to make lofty purchases, but rather because if a Madison Avenue mainstay like Barneys is bold enough to open a new location in this economy they must be confident people will be opening their wallets and spending thousands on a new purse or a pair of shoes.
From what I understand, since I’ve never been in a Barneys, it is higher priced than Nordstroms but slightly under Neiman Marcus. This location will be 65,000 square feet of designers ranging from Bottega Veneta and Manolo Blahnik to Chanel and Proenza Schouler. I’m not convinced however that those that were able to afford such luxuries were ever affected by this depressed economy. Are the wealthy still spending money like they used to or have they cut back? Or, does this indicate that our economy is on the mend? I have yet to see any concrete evidence of a turnaround but perhaps this is a sign from the economy gods?! What are your thoughts?
So, let’s celebrate the opening of Barneys in Scottsdale by letting go of our fear and opening our wallets to at least things that will help our businesses improve. If people are spending money on Gucci then why not indulge in some much needed marketing for our businesses. Marketing is a call to action, give people a reason to spend and our economy will improve.
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Hi Leslie,
I’m glad to see you writing about Barney’s opening up in Scottsdale. I’m from NYC and Barney’s is a staple in the city and when they have their sales…. look out!
I can understand some people being fearful of letting go of their funds, especially if you’re watching the news all the time. I’m in the travel industry and I have had an increase of clients every year and they’ve been taking advantage of the travel specials out there.
You have to look at where your mindset is. Are you holding back and afraid or are you taking advantage of being able to do and get things that may have been out of your reach a few years ago.
Eva
Tailored Travel Services
Thanks for your comment Eva. I couldn’t agree more, people are SO scared by everything the media is reporting that they are holding onto everything they have, rather than going about business as usual. This is what’s causing the problems in our economy, among other things. People aren’t willing to invest in their businesses and then wonder why business is so bad. I people aren’t marketing their business in this economy there is a slim chance of survival. So, those that are just “hanging on” and waiting for it all to pass, most likely won’t be around when it does. Those that are finding a way to invest in their business will be the ones that benefit from the money people are spending and will be the ones people remember when we come out of this.
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