Fashion's Night Out a superlative initiative

Saturday, November 21, 2009 7:03 AM

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Thursday, October 29, 2009

It is clear, by the robust response, that the Jamaican merchant community has, as have their counterparts elsewhere in the world, gladly embraced the concept of a special shopping night out being titled "Fashion's Night Out", or FNO.

The large number and the great variety of stores which have agreed to extend their opening hours from 5:00 to 10:00 o' clock pm in Kingston tonight, clearly demonstrates that FNO is being seen as a filip for commerce, which has been dreadfully battered this year by one of the cruelest economic recessions of all times.

Understandably, the business community is in search of initiatives that could help to boost retail sales that have been savaged, not only in Jamaica, but in countries right across the globe.

It is perhaps enough to remind readers that, going by figures from the Statistical Institute of Jamaica (STATIN) the Jamaican economy declined by 0.5 per cent in the second quarter of 2009, compared with the similar period last year, summarising the condition in which we have found ourself as a country.

Significantly, this represents the fourth quarter of continuous decline in the Jamaican economy. The impact was evident in the performance of the goods-producing industries which fell by 5.8 per cent. A comparison with the similar quarter in 2008 reveals a much larger decline, 3.7 per cent, in the Jamaican economy, STATIN said.

Higher inflation and a spike in joblessness decidedly forced Jamaican consumers to keep their hands out of their pockets, and concerns about income and job prospects will probably continue to act as a restraining force on high-street spending for some time to come.

Panicked consumers, in their own survival mode, will spend less, save more, and many won't buy anything unless it's a steal. For their part, retailers are adapting by cutting back on inventory to avoid being stuck with piles of unsold merchandise.

In an environment like this, it comes as no surprise to anyone that businesses are looking for out-of-the-box ideas that could lead to additional opportunities to lift retail sales.

Fashion's Night Out Kingston, which is not to be confused with Vogue's Fashion's Night Out, is reminding everyone why we need to shop again, and trumpeting the mantra that "if we don't shop, people lose their jobs".

The name, Fashion's Night Out, might have given the impression that the shopping is about what to wear, but the organisers have stressed that the event was meant to unleash a frenzy of shopping of all kinds. We note the suggestion that a change of name to Shopper's Night Out might prove to be more all-embracing.

But by whatever name it's called, consumers are happy to find any deal that helps them keep some money in their pockets or pocket books. This is a win-win occasion for merchants and consumers that is to be encouraged and built upon for future years.

We hope that FNO will act as a catalyst to reinvent and reinvigorate the experience of shopping.

- Fashion's Night Out Kingston is not affiliated with Vogue's Fashion's Night Out

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