According to WWD in an article posted on September 23rd by Evan Clark called "Fashion, Faster than Light" has mentioned a great deal of information about how fashion is evolving due to the economic downfall.
This is a time period where technology is evolving greatly, and social networks are used to keep up with the public. Who has the money to shop for a high end designer products? Only the filthy rich. The average Joe will go for bargains. At a time like this the consumer will purchase what it needs first and will ocasionally splerge on the sale racks. Fashion Trend prediction has failed. Designers have to go with what is relevant for the economy today. The consumer has bend the rule of fashion trends, where as designers have to keep up with the constant changes. About a decade ago it was probably the other way around. Time has changed, and so has the money in our pockets.
http://www.wwd.com/fashion-blogs/fashion_faster_than_light-11-09#more
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