Many shoppers are trading down to less expensive clothing and accessories -- swapping Lululemon leggings for Uniqlo and expensive lingerie for Target bras and panties -- as inflation eats into their disposable income and a rocky stock market erodes their wealth.
The downshift raises concerns about the coming holiday season, historically a time when many people splurge on designer handbags, fine jewelry and other extravagant purchases for themselves or loved ones.
