FASHION NIGHT OUT
From all indication the 2012 staging of Fashion Night Out could be considered a success. A lot more merchants came on board last year and more shopping districts were recognized by the organizers.
This Jamaican adaptation of the Fashion Night Out concept is the brain child of Mrs. Novia Whyte from The Jamaica Observer. The idea being to put some life in the normally slow business period, after the back to school rush, and before the Christmas shopping. The cynics among us may think Fashion Night out is nothing more than a ploy to help merchants clear out old stock to bring in the Christmas wares. On the other side of the coin, I am sure there are some bargain hunters for whom Fashion Night out is seen as a Jamaican Black Friday; shop till you drop.
Economics 101 teaches that the lively movement of goods and services is essential for the successful running of the Capitalist model .Therefore, events like Fashion Night would be perceived as being good for the economy. Alas, what is good for the economy is not always the best thing for the individual .That, as most of us know, is the Paradox of Thrift. Prior to Fashion Night Out Jamaicans went through a rough back to school period; the books and school supplies were very expensive .To move from that situation straight into a shopping spree could be seen in some quarters as bit of an over extension. There is the buy what we need method as opposed to buying when a deal is offered. The financial gurus would appeal to the minimalist inside of us, “buy what you need”.
Handling our personal financial affairs was never taught to us, this according to Robert Kiyosaki is the education we all need to have. “The main reason people struggle is because they have spent years in school but learned nothing about money”. This is how Sharon Lechter worded the same sentiment, “I love my children and want to ensure they get the best education possible! Traditional schooling ,while very important, is no longer enough. We all need to understand money and how it works“.