Underwear Sales

Are things getting better? The answer, lies, ahem, beneath.

Updated: Jul 10, 2009 09:03:59 AM IST

A lot of assumptions by former Fed chairman, Alan Greenspan were proven wrong as the world economy began to unravel from 2008. It’s time to add another one to the list. Greenspan had said men’s underwear sales are one of the barometers of the economy. Men, apparently, treat underwear as utility, so, in bleak times, they make do with what’ already in the top drawer. Women, on the other hand, treat underwear as a feel-good factor and up purchases during tough times. So, with all the talk of “green shoots” going around, you’d think that men would be buying more. However, figures show a steady drop in sales since 2008. But a more interesting figure is the drop in women’s underwear: 20 percent. Conclusion? They feel times are so bad that even feel-good purchases are not worth it anymore. We wonder whether Mr. G has new boxers.

(This story appears in the 17 July, 2009 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)

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