Twelve months ago Australian consumers, flushed with the stockmarket at record highs, were embracing their inner "born to shop" urges and splurging on designer labels and lifestyle goods.
Who could have predicted that by late 2008 these spending highs would hit such rapid lows?
Those shoppers once concerned about how to squeeze into a $250 pair of Sass & Bide jeans are now more preoccupied with the tightening effects of the global credit crunch turning into a new psychology of "torn to shop".
Fashionistas' spending has given way to recessionista saving - or at least paying off their credit card bills from last year's shop-a-thon.
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