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Saturday, February 14, 2009

Are Men's Suits Recession Proof?

By Victor Santerino

The suit has existed for over eight centuries now. This garment has been worn to help men look their best. Men wear suits to look well mannered, cultured, hard working, honest, intelligent, and reliable.

However, the suit seems to have fallen out of favor for many men over the last two decades. These days you won't find nearly as many men wearing suits as you may have in the past. I think this current deep recession will change this and bring the number of people wearing suits up dramatically.

First, we will see that many men will increase the quality of their wardrobe to be noticed by their employers favorably. These men will wear suits in the hope that when the axe comes falling it will be on their peers and not them.

Next you will have the companies that scale back expansion, with a new set of finely dressed men. These men will not be trying to distinguish themselves to keep from being fired, but to make themselves more noticeable for the fewer and fewer job promotions.

Interview suits will be needed for men that have been laid off or fired from their current jobs. In addition to this they will be competing with recent graduates who will also need strong power suits to interview in.

The last group of people wearing suits are the most unfortunate of all. These are the men that don't have a job or the prospect of getting one. They will simply wear suits to look like they are gainfully employed.

This premonition is clearly not apparent yet since some of the largest manufacturers of suits are going bankrupt. Retail sales are not down as far as many people have predicted, but prices on retail goods have plummeted.

In the near future we will see that the prices of suits will go back up. Companies still standing will become even greater, and new companies will spring up to replace the fallen companies.

Remember to consider the consequences of a recession on any given market that you may be a consumer in. Keeping an eye out for price increases is a great way to both save and make money.

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