A sideways look at economics
I recently went thrift shopping with a few friends and couldn’t help but notice how many articles of clothing from fast-fashion chains were popping up in the racks. Charity shops used to be stocked with branded sweaters and jeans from several decades ago – pieces of clothing that had stood the test of time. But behaviours are shifting; truthfully, they have been for a few years now. We are cycling through clothing faster than ever. Chain stores are capitalising on any trends they can detect, consumers are eating it up, and as the micro-trends inevitably die out, they pop up in charity shops or get sent to landfill. As problematic as this behaviour is, it can also serve as a litmus test for society.
Clothing serves as a powerful reflection of the greater economy and societal values. While clothing has always been a basic need, it has not always been considered in the same light. Abundance and accessibility have changed our interaction with clothes over time.
We continue to purchase more and more clothing while the relative cost declines, a trend enabled by increased industrialisation and globalisation. Taking a look further back to a time before abundant fast fashion, the relationship between people and their clothes was staunchly different than it is now. Back then, clothes were more durable, and relatively expensive as a share of disposable income. They were mended when needed and passed down as much as possible. Personal wardrobes were much smaller and pieces were worn frequently.
Today, fast fashion makes up 36% of the fashion industry as a whole, despite calls for more sustainable industry practices.[1] Much of this type of clothing is treated as nearly disposable, with exceptionally short lifespans.[2] Fashion trends are almost akin to the speed of news cycle these days. As we increase the rate at which we cycle through clothing, I find that it has become easier to notice cultural shifts in a timely manner. After all, clothing is a basic human need, but it is also a very informative means of self-expression, and changing our wardrobes as much as we do on average means we can get a read of general beliefs as they evolve. Clothing trends, by extension, can say quite a bit about widespread political attitudes and economic circumstances.
Take, for instance, the fashion trends of 2008 during the global financial crisis. The widespread desire for structure and security in a world of economic struggle and uncertainty was showcased through a resurgence of tried-and-tested clothing options. Amid a significant recession, people traded in their early-2000s layered polos, bold colours and branded accessories, replacing them with plaid, selvedge denim and 1980s revival attire.
Let’s fast forward to the summer of 2024, in the period of higher inflation prior to the US presidential election. What was popular then? Cowboy boots and milkmaid dresses – clothing that is closely associated with traditional conservative values of the American West. The popularity of cowboy-core, as it was coined, transcended political party affiliation and wound up becoming mainstream, helped in part by Beyoncé’s 2024 Cowboy Carter album. This signalled a resurgence of conservatism, even during a Democrat presidency. Through this lens, the 2024 Republican win was expected.
The colour of our clothing can also be telling sign. In times of economic worry, we tend to opt for more neutral-coloured clothes for their versatility. We turn to clothes that can be mixed and matched in different combinations to feed our want for variety without having to purchase as much clothing. This behaviour was detected during the 1930s Great Depression, which saw deep and muted colours at the forefront.[3] This trend even affected hair fashion, coming to a head after the global pandemic with the popular ‘recession brunette’, in which women traded in their expensive-to-maintain blonde look for more natural shades of brown. In fact, muted colours are still quite popular these days, with ‘earthy, natural tones’ expected to be the highlight of spring 2026.[4] Pantone’s recent colours of the year support this trend, as it selected a brown ‘Mocha Mousse’ to represent 2025 and white ‘Cloud Dancer’ for 2026.
We should also consider the ‘recession-indicator’ fashion trends that make an appearance at times of true recession and in moments of general economic worry. The ‘lipstick effect’ is a notable example – a phenomenon where consumers pivot towards accessories rather than big ticket items, especially for luxury brands. In these moments, consumers maintain a desire for luxury goods, often with logos to signal wealth to others, but are economically weary and thus they opt for the more affordable accessories.
The relationship between fashion trends and current political and economic situations is one I find fascinating. It’s a silver lining of sorts for the extensive waste within the fashion industry, and a reminder of the all-encompassing nature of economics. Economics is everywhere: in our wallets for sure, but also in our shirts, socks, and accessories.
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[1] https://www.marketreportsworld.com/market-reports/clothing-and-apparel-market-14722090
[2] https://earth.org/statistics-about-fast-fashion-waste/
[3] https://www.vintagevixen.com/pages/1930s-depression-era-fashion-history
[4] https://wunderlabel.com/blog/p/color-trends-2026-pantone-coloro-fashion-weeks/