The company has managed better than most the shift in emphasis from making trinkets for middle-aged Asian tourists to making clothes for younger local consumers.

ECONOMIST: LVMH and Gucci

Echoing the thinking behind the Naturalis appliance also featured below, these startups all recognize that consumers have a real desire for clothes and beauty products that are customizable in some way, making them more unique while also enabling the user to involve themselves in the design process.

FORBES: The Top 10 Fashion And Beauty Startups This Year

Reluctant consumers may just wait for those back-to-school clothes to hit the bargain bins in October.

FORBES: Connect

In Europe, consumers now buy food in the way they purchase clothes: going downmarket for basics and splurging on the odd treat.

ECONOMIST: Saving money

The efforts mostly flopped--consumers just don't turn to Wal-Mart for nice clothes and expensive plasma televisions, and the company has made little political headway in union-heavy cities.

FORBES: Wal-Mart Needs A Plan

Consumers can also take more responsibility by repairing and caring for the clothes they own, trading their duds at clothing swaps and, for the particularly creative, refashioning last year's styles into fresh looks.

CNN: The fashionista's dilemma: Cheap clothes

While electronics may be more chic than clothes today, teen consumers are still visiting apparel stores during the season best-known for retail splurging.

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