Record high temperatures put crimp in fur retail

SANDY PARKER REPORT, VOL. 31, ISSUE 44, JAN. 14, 2008
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
Subscribe now and receive all the latest news, either in print or electronically. Just $150 a year for 48 issues! Sandy Parker Reports, 21219 Lago Circle, Boca Raton, FL 33433; Tel: (561) 477-3764; Fax: (561) 862-7052; SParker@SandyParker.com; www.sandyparker.com
International Fur News
with Sandy Parker
Record high temperatures put crimp in fur retail
RECORD HIGH TEMPERATURES FOR JANUARY in many sections of the U.S. and western Europe have thrown fur retailers a curve in what normally would be one of their busiest months of the year. But the forecasts were that the warm spell would be short-lived and followed by more seasonable weather, thus fueling hopes that the momentum that was attained in November and December could resume and turn this into a decent season. Virtually no one surveyed last week, however, was expecting it to be one of their best – and not, as was the case in previous years, because of unfavorable weather. This time, it is the economy that has many furriers concerned about their prospects.
Furriers are now seeing signs that consumers are not spending as freely as they did a year ago. And, while this formerly was linked to isolated local unemployment problems, it has now become more national in character reflecting troubles in the housing market and their ripple effects.
FULL-LENGTH CONVENTIONAL MINK COATS, FOR MANY YEARS REGARDED AS THE BACKBONE OF THEIR BUSINESS, have become a tough sell, according to American retailers. Not a recent development; sales of the item have been in decline for several years. Paradoxically, it is still regarded as an icon of prestige, the feature of leading designers’ collections and sells well at five-figure prices at the top stores. It is under that level that stores have been having difficulty, primarily in the medium-to-better $5,000 to $9,000 range.
For decades, the mink coat was worn almost as a badge of success and was a favorite holiday gift. The past holiday season, however, saw fewer of them purchased as gift items – possibly, say retailers, because of fewer and smaller year-end bonuses. Lifestyle changes also are believed to have affected the demand for long coats in general.
IN THIS ISSUE:
Dec. Termed Good Month…
…but Jan. Thaw Cuts Traffic
Long Mink Coats Tough Sell
Russian, Chinese Markets Active
Wild Fur Prices Open Stronger
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
-
For further information contact Fur Commission USA.
Home
© 1998-2011 Fur Commission USA