Click to play videoNew Delhi: 2008 is the year when we learnt that R stood for recession, P for pink slips and S for slowdown. As the market mood swung from cheery to gloomy and individuals and companies lost billions in the market, early in the year the Prime Minister stuck a cautious note asking people to go slow on spending.
Not so surprisingly, the urban middle class India decided to take his advice. Designer couple Nordon and Aparna Wangdi, proud first time parents, wanted to give their little baby Kaizan the proverbial silver spoon, but their dream designer baby room will have to wait for times to get a bit better.
Aparna Wangdi says, "We are rennovating our house and had elaborate plans for our baby's room, but now we will cut down on the cost a bit."
The sentiment echoed every where. Brides cut on designer frills, young couples discovered the joys of home-cooked meals and holidays and honeymoons went from foreign to local. In the uncertain climate of 2008 the conservative Indian spender was back.
And in keeping with the times fashion too adapted to it. Black was back so were clean straight lines that would endure financially turbulent times.
Designer Tarun Tahiliani says, "The people who spend on special occasions will continue to do so but it certainly is muted."
2008 saw the death of the earn and burn philosophy. It became a year when swiping the credit card recklessly gave way to cautious spending. 2009 with it's gloomy economic outlook could then push that trend to another level and it could well become the year of the non consumer, the year of austere chic.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
 |
 |
 |
|
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.