Touchdown: ‘Recessionista’ now in style

In the extremely unlikely event you missed it over the holidays, circumstances are dire for many businesses in the retail industry. The recession has caused some retailers to file for bankruptcy, while others look for creative ways to continue to attract shoppers. So it was Touchdown-worthy this week to see a Reuters news story picked up by the Globe and Mail and many other outlets based on a press release put out by the British department store chain Debenhams. The company talked about attracting a new breed of shopper – the “recessionista” – who is trading down from top end to more affordable luxury goods, such as the Designers at Debenhams range, which saw a double-digit sales jump. The campaign, coupled with aggressive December pre-Boxing Day sales prices, saw Debenhams suffer only modest sales declines (and beat its forecasts) compared to other major British retailers, and as a result its share price was up by 30 per cent. Debenhams deputy chief executive Michael Sharp said: “The market is incredibly tough but there are always going to be winners and losers. We are in the winners’ camp.” The communications lesson is that in troubled times, it can be about calling a spade a spade and then making your case for why you offer consumers a unique opportunity.