Economic Trends and Being Trendy: The Influence of Consumer Confidence on Retail Fashion Sales

Greg M Allenby, Lichung Jen and Robert P Leone

Journal of Business & Economic Statistics, 1996, vol. 14, issue 1, 103-11

Abstract: Consumers who make early purchases of fashion apparel often pay a premium for being the first to wear the new styles. These consumers are often characterized as being relatively less price sensitive and more affluent than those who make their purchases later in the selling season. In this study, the authors examine monthly sales from five divisions of a Fortune 500 retailer and employ a hierarchical Bayes model to produce pooled estimates which indicate that the sales early in the season are substantially influenced by the confidence consumers have about the future state of the economy.

Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:14:y:1996:i:1:p:103-11

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