Recession, inflation, economy: these three words have got to be responsible for my guilt when I look at my grocery bill at the end of the week. But it’s not my fault. A basket of groceries this time last year was about 15 pounds. Now, it totals up to about 25, (and that’s only when I’m shopping at Lidl). We can all tell that an economic crash is likely on its way, but we don’t have to rely on rising bills or rent to gather this. Forecasters have actually associated fashion trends with economic rises and falls throughout the years.
The so-called Hemline Index is a great example of economists using fashion to foretell the state of the economy. There’s a significant correlation between the height of a woman’s skirt and the hills and valleys of the economy. Historically, shorter skirts have been trendy when the economy is doing well, while longer and more conservative hemlines are popular when the economy is doing badly. Take the shorter and more boyish silhouettes of the 1920s compared with the feminine, long skirts of the 1940s and 50s. In the early 2000s, micro-minis were all the rage, but maxi skirts (God forbid) were on the cutting edge after 2008. So what can our current hemlines tell us right now? Last year, we saw skirts like the Diesel belt micro mini trending when the world started opening back up to tourism. Looking at Spring 2023 runway shows from Chanel and Fendi, skirts and dresses are gradually inching their way towards the knees and floor, with hardly a single garment above fingertip length.
We’ve also noticed a trend of disappearing jewellery from recent awards shows. Could the lack of diamonds and pearls show that the economy is about to take a turn for the worse? Celebrities have notably not been wearing necklaces and big earrings as much as they were about ten years ago. Coincidentally (or not), big, chunky statement jewellery and bejewelled pieces were very on-trend from 2013-2016. Take Lupita Nyong’o’s pearl gown that she wore to the 2015 Oscars, for example. We are seeing very few gowns that have this level of artistry, class, or luxury. In my opinion, a lack of jewels and longer hemlines lead me to believe our economy is taking a turn for the worse.