Stock Market wealth effect on consumption and the Men’s formal wear business.
For all those that may have lost money this week with the Stock Market in their 401k accounts or if you owned individual stocks it can effect how you spend money going forward.
They have names for it but simply put-people feel less rich sometimes when the stock market goes down because they are affected by it in the long run and short run in many different ways. Even though the US economy is doing great and no changes may take place over the years when the stock market has big swings like it did last week some businesses will cut back on their spending, less power lunches, less formal wear holiday parties or less formal ones (suit rentals instead of Tuxedos). Rose Tuxedo has been in been in the formal wear business for over 25 years and we have seen customers wanting to rent more suits over Tuxedos when the economy is down to make it feel just a little less formal. The stock markets drastic changes can also bring more people together and create bigger celebrations. I heard one news person say today “that when the stock market goes down people don’t go running out to buy a new pair of shoes at Nordstroms” You don’t have to spend hundreds of dollars on a tuxedo rental at Men’s Ware house just visit a local Tuxedo rental Specialist and they will work with most budgets.
No matter what affect the stock market issues has on you or your company Rose Tuxedo will work with any budget at anytime. If you’re a high school student this year going to prom 2016 and you want to rent a sharp looking tuxedo then Rose Tuxedo has an affordable Tuxedo or suit waiting for you. We are a family owned formal wear business and all you have to do is share how much you can afford because we have designer tuxedos at discount prices. If you’re a Hispanic Girl or the parents of one who is turning 15 soon and you want to have a nice Quinceanera for your family and her then please let us know what your groups budget is and I promise you we will not let you leave our tux shops until you pick out the Tuxedo rental you want at a tux price you can afford. Same goes for any future weddings. We have tuxedo rental prices that everyone can afford and we would love to have you.
I can’t speak for every Tuxedo rental shop but after being in the Tuxedo rental industry for over 25 years and meeting so many great formal wear operators and Tuxedo specialist they are very compassionate people and love making people happy because that’s the kind of business we are in. So don’t be afraid to let the shop owners know your budget and if they can make you a deal and look sharp I’m sure they will. Some tuxedo rentals cost us more to handle and some are much less so you never now. Happy Quinces, Holiday Parties, Prom and Weddings.