budget fashionista

Trey Shores, 36, recently scored a fantastic deal. The Tokyo-based consultant scooped up an in-season Helmut Lang leather jacket in the city's Ginza district for 50% off the regular price. What was an out-of-reach $2,000 became a more reasonable $1,000 "just like that," says Shores. "I'm quite proud of [it]."

He's certainly not the only consumer benefiting from the financial hardship of retailers. From clothing to travel to cars, companies are being forced to reduce prices at a never-before-seen clip as the global economy continues to shrink


In the U.S., consumer spending in the fourth quarter of 2008--which accounts for more than two-thirds of domestic economic activity--decreased by 4.3%, according to the Commerce Department. That's the worst decline since the second quarter of 1980. And while retail store sales were up 1% in January 2009 to $344.6 billion when compared with December 2008, and overall consumer spending was up 0.6% during the same period, the government has attributed those increases to massive markdowns on inventory. For many retailers, bargaining with consumers is the only option. In other words, it's a buyer's market.