Roses are red, violets are blue, but this Valentine's Day, will your wallet feel the squeeze too?<o:p></o:p>

While millions prepare to celebrate love with chocolates, cards, and cosy dinners, the question arises: how much does this day of affection truly cost the economy, and is the pressure to spend worth it?<o:p></o:p>

Hearts open, wallets open wider?<o:p></o:p>

According to the National Retail Federation (NRF), Americans are expected to shower their significant others with a record-breaking $14.2 billion this Valentine's Day, totalling a whopping $25.8 billion in overall spending.<o:p></o:p>

That's an average of $185.81 per person, marking an $8 increase from the past five years. While inflation undoubtedly plays a role, experts suggest a shift in priorities, with celebrants focusing their spending on romantic partners rather than broader circles.<o:p></o:p>

"People are normalising their Valentine's spending when it comes to what they purchase for non-romantic relationships," says Katherine Cullen, NRF's vice president for industry and consumer insights. "They're getting back to the true purpose of celebrating romantic relationships."<o:p></o:p>

But is love measured in dollars?<o:p></o:p>

Despite the economic boom, a Trustpilot study reveals a concerning trend: younger generations (millennials and Gen Z) feel the most pressure to overspend on Valentine's Day.<o:p></o:p>

33 per cent of millennials and 21 per cent of Gen Z in relationships reported feeling more pressure to splurge this year compared to 2023.<o:p></o:p>

This pressure can lead to concerning choices, with 26 per cent of both Gen Z and millennials willing to sacrifice essential expenses like rent or food to afford the "perfect" celebration.<o:p></o:p>

Even more alarming, 25 per cent of millennials would resort to credit card debt, potentially jeopardising their financial well-being for a single day.<o:p></o:p>

Valentine's day: a global love fest with economic twists<o:p></o:p>

Valentine's Day isn't just a Hallmark holiday; it's a global phenomenon with a significant economic impact.<o:p></o:p>

But how does this day of love translate into economic ripples?<o:p></o:p>

Locally loved, globally felt<o:p></o:p>

While the US leads the spending spree, other countries join the celebration. Japan sees a boom in chocolate sales, with women traditionally gifting men.<o:p></o:p>

In China, couples shower each other with roses and other romantic gestures, boosting the flower industry.<o:p></o:p>

Even in countries where the holiday isn't deeply ingrained, like India, Valentine's Day has gained traction, influencing spending on restaurants, gifts, and travel.<o:p></o:p>

Booming businesses, buzzing jobs<o:p></o:p>

From florists and jewellers to restaurants and travel agencies, Valentine's Day fuels a surge in business activity.<o:p></o:p>

Small businesses often reap significant benefits, with personalized gifts and unique experiences attracting customers.<o:p></o:p>

This temporary spike in demand creates temporary jobs in retail, hospitality, and service sectors, contributing to the overall economic activity.<o:p></o:p>

Beyond the glitter<o:p></o:p>

It's important to acknowledge the complexities alongside the economic boosts.<o:p></o:p>

The pressure to spend heavily can strain budgets, particularly for younger generations, leading to potential debt and financial stress.<o:p></o:p>

Additionally, ethical concerns may arise regarding unsustainable production practices associated with certain Valentine's Day staples like flowers.<o:p></o:p>

Celebrating responsibly<o:p></o:p>

As we celebrate love, it's crucial to approach Valentine's Day thoughtfully.<o:p></o:p>

Supporting local businesses, choosing eco-friendly options, and focusing on shared experiences over extravagant gifts can ensure a meaningful celebration that benefits both hearts and wallets, globally.<o:p></o:p>

Remember, true love doesn't have a price tag. Let's celebrate responsibly and ensure the economic pulse of Valentine's Day beats for everyone, ethically and sustainably.<o:p></o:p>

Roses are red, violets are blue, but this Valentine's Day, will your wallet feel the squeeze too? While millions prepare to celebrate love with chocolates, cards, and cosy dinners, the question arises: how much does this day of affection truly cost the economy, and is the pressure to spend worth it?

Roses are red, violets are blue, but this Valentine's Day, will your wallet feel the squeeze too? While millions prepare to celebrate love with chocolates, cards, and cosy dinners, the question arises: how much does this day of affection truly cost the economy, and is the pressure to spend worth it? Hearts open, wallets open wider? According to the National Retail Federation (NRF), Americans are expected to shower their significant others with a record-breaking $14.2 billion this Valentine's Day, totalling a whopping $25.8 billion in overall spending. That's an average of $185.81 per person, marking an $8 increase from the past five years. While inflation undoubtedly plays a role, experts suggest a shift in priorities, with celebrants focusing their spending on romantic partners rather than broader circles. "People are normalising their Valentine's spending when it comes to what they purchase for non-romantic relationships," says Katherine Cullen, NRF's vice president for industry and consumer insights. "They're getting back to the true purpose of celebrating romantic relationships." But is love measured in dollars? Despite the economic boom, a Trustpilot study reveals a concerning trend: younger generations (millennials and Gen Z) feel the most pressure to overspend on Valentine's Day. 33 per cent of millennials and 21 per cent of Gen Z in relationships reported feeling more pressure to splurge this year compared to 2023. This pressure can lead to concerning choices, with 26 per cent of both Gen Z and millennials willing to sacrifice essential expenses like rent or food to afford the "perfect" celebration. Even more alarming, 25 per cent of millennials would resort to credit card debt, potentially jeopardising their financial well-being for a single day. Valentine's day: a global love fest with economic twists Valentine's Day isn't just a Hallmark holiday; it's a global phenomenon with a significant economic impact. But how does this day of love translate into economic ripples? Locally loved, globally felt While the US leads the spending spree, other countries join the celebration. Japan sees a boom in chocolate sales, with women traditionally gifting men. In China, couples shower each other with roses and other romantic gestures, boosting the flower industry. Even in countries where the holiday isn't deeply ingrained, like India, Valentine's Day has gained traction, influencing spending on restaurants, gifts, and travel. Booming businesses, buzzing jobs From florists and jewellers to restaurants and travel agencies, Valentine's Day fuels a surge in business activity. Small businesses often reap significant benefits, with personalized gifts and unique experiences attracting customers. This temporary spike in demand creates temporary jobs in retail, hospitality, and service sectors, contributing to the overall economic activity. Beyond the glitter It's important to acknowledge the complexities alongside the economic boosts. The pressure to spend heavily can strain budgets, particularly for younger generations, leading to potential debt and financial stress. Additionally, ethical concerns may arise regarding unsustainable production practices associated with certain Valentine's Day staples like flowers. Celebrating responsibly As we celebrate love, it's crucial to approach Valentine's Day thoughtfully. Supporting local businesses, choosing eco-friendly options, and focusing on shared experiences over extravagant gifts can ensure a meaningful celebration that benefits both hearts and wallets, globally. Remember, true love doesn't have a price tag. Let's celebrate responsibly and ensure the economic pulse of Valentine's Day beats for everyone, ethically and sustainably.

Love is in the air, but is it in your budget? Exploring the economic impact of Valentine's Day

India's upcoming interim budget on February 1 is highly anticipated, especially by the nation's women. With the general elections looming, the government is expected to unveil policies that empower women and boost their participation in the economy.

Financial Support for Female Farmers

One of the most anticipated announcements is a potential doubling of the annual payout to landowning women. This move, estimated to cost the government an additional $1.44 billion, could resonate with female voters and provide much-needed financial support to a crucial segment of the population.

Boosting Women Entrepreneurship

The budget is also expected to focus on supporting women entrepreneurs, particularly in smaller cities. Schemes like Pradhan Mantri Mudra Yojana and women entrepreneurship platforms have already been helpful, but there is a demand for greater mentorship and networking opportunities.

Increasing Female Labor Force Participation

India's female labour force participation rate currently stands at 24%, contributing about 17% to the GDP. The government is expected to announce a 25% increase in allocation towards women-centric schemes compared to 2023, aiming to drive up these numbers and ensure greater inclusion of women in the workforce.

A Budget for Gender Equity

India's women have high hopes for the upcoming budget, seeing it as an opportunity to kickstart a revolution in gender budgeting. Empowering women is not just about social justice; it is also about unlocking their full potential and making them equal stakeholders in India's growth story.

February 1 budget will be closely watched not only by India's women but also by policymakers and economists around the world. It has the potential to set a precedent for gender-inclusive budgeting and pave the way for a more equitable and prosperous future for India.

India's upcoming interim budget on February 1 is highly anticipated, especially by the nation's women. With the general elections looming, the government is expected to unveil policies that empower women and boost their participation in the economy.

India's upcoming interim budget on February 1 is highly anticipated, especially by the nation's women. With the general elections looming, the government is expected to unveil policies that empower women and boost their participation in the economy. Financial Support for Female Farmers One of the most anticipated announcements is a potential doubling of the annual payout to landowning women. This move, estimated to cost the government an additional $1.44 billion, could resonate with female voters and provide much-needed financial support to a crucial segment of the population. Boosting Women Entrepreneurship The budget is also expected to focus on supporting women entrepreneurs, particularly in smaller cities. Schemes like Pradhan Mantri Mudra Yojana and women entrepreneurship platforms have already been helpful, but there is a demand for greater mentorship and networking opportunities. Increasing Female Labor Force Participation India's female labour force participation rate currently stands at 24%, contributing about 17% to the GDP. The government is expected to announce a 25% increase in allocation towards women-centric schemes compared to 2023, aiming to drive up these numbers and ensure greater inclusion of women in the workforce. A Budget for Gender Equity India's women have high hopes for the upcoming budget, seeing it as an opportunity to kickstart a revolution in gender budgeting. Empowering women is not just about social justice; it is also about unlocking their full potential and making them equal stakeholders in India's growth story. February 1 budget will be closely watched not only by India's women but also by policymakers and economists around the world. It has the potential to set a precedent for gender-inclusive budgeting and pave the way for a more equitable and prosperous future for India.

Budget 2024: India’s women hope for greater gender equity

The Indian Union Budget, an annual ritual of economic pronouncements, arrives on February 1, amidst a charged atmosphere. With national elections casting long shadows, the tightrope walk between fiscal prudence and political expediency has never been more critical. This year's budget holds the key to India's economic trajectory, impacting not just domestic prosperity but also its standing in the global investment arena.

The central theme revolves around the fiscal deficit, the ever-present gap between the government's income and expenditure. Bridging this chasm requires a deft balancing act, juggling strategic borrowing with prudent spending. Finance Minister Nirmala Sitharaman set the stage last year with a bold 5.9 per cent fiscal deficit target, a significant deviation from the previous year's trajectory. This fiscal consolidation commitment has resonated with foreign investors seeking stability and structural reforms.

However, as election fever grips the nation, whispers of populism are starting to rise. The temptation to woo voters with short-term measures, sacrificing long-term stability for immediate gratification, is undeniably strong. Will the government succumb to these pressures, potentially jeopardising India's carefully cultivated image as a reliable investment destination?

Global investors are observing with keen interest. Growth and fiscal deficit targets are their barometers for India's economic health. Any deviation from the path of fiscal consolidation could trigger tremors in financial markets, raising concerns about India's commitment to responsible macroeconomic management.

The government, however, maintains its stance on the tightrope. They assert that the fiscal deficit remains under control, highlighting their dedication to responsible economic stewardship. But can this commitment withstand the mounting pressure of elections?

As Budget Day draws closer, the question resonates: will India bridge the fiscal gap or build a chasm? Will the government prioritise long-term fiscal discipline and structural reform, or will populism take centre stage? The pages of the Union Budget hold the answer, not just for domestic economic policies but also for India's standing in the global market.

This February 1, watch closely as the Indian government attempts to traverse the delicate tightrope between political expediency and responsible fiscal management. The world is watching, and the stakes have never been higher.

The Indian Union Budget, an annual ritual of economic pronouncements, arrives on February 1, amidst a charged atmosphere. With national elections casting long shadows, the tightrope walk between fiscal prudence and political expediency has never been more critical.

The Indian Union Budget, an annual ritual of economic pronouncements, arrives on February 1, amidst a charged atmosphere. With national elections casting long shadows, the tightrope walk between fiscal prudence and political expediency has never been more critical. This year's budget holds the key to India's economic trajectory, impacting not just domestic prosperity but also its standing in the global investment arena. The central theme revolves around the fiscal deficit, the ever-present gap between the government's income and expenditure. Bridging this chasm requires a deft balancing act, juggling strategic borrowing with prudent spending. Finance Minister Nirmala Sitharaman set the stage last year with a bold 5.9 per cent fiscal deficit target, a significant deviation from the previous year's trajectory. This fiscal consolidation commitment has resonated with foreign investors seeking stability and structural reforms. However, as election fever grips the nation, whispers of populism are starting to rise. The temptation to woo voters with short-term measures, sacrificing long-term stability for immediate gratification, is undeniably strong. Will the government succumb to these pressures, potentially jeopardising India's carefully cultivated image as a reliable investment destination? Global investors are observing with keen interest. Growth and fiscal deficit targets are their barometers for India's economic health. Any deviation from the path of fiscal consolidation could trigger tremors in financial markets, raising concerns about India's commitment to responsible macroeconomic management. The government, however, maintains its stance on the tightrope. They assert that the fiscal deficit remains under control, highlighting their dedication to responsible economic stewardship. But can this commitment withstand the mounting pressure of elections? As Budget Day draws closer, the question resonates: will India bridge the fiscal gap or build a chasm? Will the government prioritise long-term fiscal discipline and structural reform, or will populism take centre stage? The pages of the Union Budget hold the answer, not just for domestic economic policies but also for India's standing in the global market. This February 1, watch closely as the Indian government attempts to traverse the delicate tightrope between political expediency and responsible fiscal management. The world is watching, and the stakes have never been higher.

India's fiscal tightrope walk: Will Budget 2024 bridge the gap or develop a rift?

&nbsp;

Every October, amidst the hallowed halls of Parliament, a meticulous ballet unfolds. One that includes numbers and calculations, conducted by the Finance Minister and a symphony of advisors, ministries, and economic minds. This is the crafting of the Indian Union Budget, a delicate dance between aspirations and resources, woven into a financial roadmap for the nation.

The opening act commences with a grand gathering of voices. Industry leaders and economists offer their measured melodies, depicting the economic landscape. Ministries, like seasoned orchestral sections, present their financial proposals, requesting allocation of resources with careful precision. Meanwhile, the Chief Economic Advisor and financial advisors act as the meticulous conductors, harmonising expenditures and crafting the initial fiscal composition.

Act II sees the emergence of the deficit, the crucial gap between aspirations and realities. The government, in collaboration with the Reserve Bank of India, analyses revenue streams and assesses borrowing options, both external and domestic. It's a delicate balancing act, ensuring the financial bridge is solid without overburdening the nation.

Act III witnesses the meticulous fine-tuning of the fiscal score. Tax rates may be adjusted, expenditures reprioritised, and non-plan expenditures carefully evaluated, all in pursuit of the targeted deficit. It's a constant negotiation, ensuring the fiscal melody remains harmonious and sustainable.

The grand finale arrives with the presentation of the Budget in Parliament. The Finance Minister, Nirmala Sitaraman, the lead vocalist, narrates the financial narrative, detailing estimated receipts, expenditures, and proposed policies. Parliament, the discerning audience, scrutinises the composition, offering amendments and ensuring the budget aligns with national priorities.

This intricate performance culminates in the formal approval of the Appropriation Bills and the Finance Bill, authorising government spending and any proposed tax changes. However, the music may not always end there. The Vote-on-Account, a temporary financial bridge, allows for urgent expenditures until the full budget comes into effect on April 1st.

Thus, the Indian Budget is more than just a set of numbers; it's a meticulously orchestrated symphony of collaboration, responsibility, and parliamentary scrutiny. It shapes the economic narrative of the nation, paving the way for growth, development, and ultimately, the well-being of its citizens. So, the next time you hear whispers of fiscal targets or infrastructure spending, remember the grand performance behind it, the choreographed crescendo of India's Budget.

Every October, amidst the hallowed halls of Parliament, a meticulous ballet unfolds. One that includes numbers and calculations, conducted by the Finance Minister and a symphony of advisors, ministries, and economic minds.

Every October, amidst the hallowed halls of Parliament, a meticulous ballet unfolds. One that includes numbers and calculations, conducted by the Finance Minister and a symphony of advisors, ministries, and economic minds. This is the crafting of the Indian Union Budget, a delicate dance between aspirations and resources, woven into a financial roadmap for the nation. The opening act commences with a grand gathering of voices. Industry leaders and economists offer their measured melodies, depicting the economic landscape. Ministries, like seasoned orchestral sections, present their financial proposals, requesting allocation of resources with careful precision. Meanwhile, the Chief Economic Advisor and financial advisors act as the meticulous conductors, harmonising expenditures and crafting the initial fiscal composition. Act II sees the emergence of the deficit, the crucial gap between aspirations and realities. The government, in collaboration with the Reserve Bank of India, analyses revenue streams and assesses borrowing options, both external and domestic. It's a delicate balancing act, ensuring the financial bridge is solid without overburdening the nation. Act III witnesses the meticulous fine-tuning of the fiscal score. Tax rates may be adjusted, expenditures reprioritised, and non-plan expenditures carefully evaluated, all in pursuit of the targeted deficit. It's a constant negotiation, ensuring the fiscal melody remains harmonious and sustainable. The grand finale arrives with the presentation of the Budget in Parliament. The Finance Minister, Nirmala Sitaraman, the lead vocalist, narrates the financial narrative, detailing estimated receipts, expenditures, and proposed policies. Parliament, the discerning audience, scrutinises the composition, offering amendments and ensuring the budget aligns with national priorities. This intricate performance culminates in the formal approval of the Appropriation Bills and the Finance Bill, authorising government spending and any proposed tax changes. However, the music may not always end there. The Vote-on-Account, a temporary financial bridge, allows for urgent expenditures until the full budget comes into effect on April 1st. Thus, the Indian Budget is more than just a set of numbers; it's a meticulously orchestrated symphony of collaboration, responsibility, and parliamentary scrutiny. It shapes the economic narrative of the nation, paving the way for growth, development, and ultimately, the well-being of its citizens. So, the next time you hear whispers of fiscal targets or infrastructure spending, remember the grand performance behind it, the choreographed crescendo of India's Budget.

Budget 2024: Choreographing the peak of fiscal responsibility

Thanksgiving, a cherished American tradition, embodies unity and gratitude, tracing back to the Pilgrims' 1621 feast with Native Americans. This day transcends boundaries, fostering inclusivity as families gather to express thanks for health, prosperity, and kinship. It serves as a vital reminder to pause, appreciate life's abundance, and embrace the enduring values uniting a diverse nation.

As Thanksgiving 2023 approaches, the economic landscape in the United States is painting a complex picture, influencing both the cost of celebrations and travel plans. While there's a slight respite from inflation, families continue to feel the strain on their finances.

According to the American Farm Bureau Federation (AFBF),&nbsp;the cost of a ten-person Thanksgiving dinner&nbsp;has decreased by 4.5 per cent from the previous year, totalling $61.17. This reduction is primarily attributed to a 5.6 per cent drop in the price of turkey, a staple of the Thanksgiving feast. However, despite this dip, the overall cost of meals remains 25 per cent higher than in 2019, underscoring the persistent challenges posed by inflation.

On the travel front, Americans are gearing up for a bustling Thanksgiving. AAA,&nbsp;the auto club&nbsp;group, expects&nbsp;a&nbsp;significant 6.6 per cent increase in air travel, reaching its highest point in almost two decades, as&nbsp;4.7 million people are expected to take to the skies.

Meanwhile, a staggering 49.1 million Americans are set to hit the roads, marking a 1.7 per cent rise from the previous year. According to a report by GasBuddy, affordable gas prices, currently averaging $3.27 per gallon, play a pivotal role in inspiring more road trips, having fallen 25.9 cents from last month and 36.9 cents from last year.

The drop in average flight prices by 9 per cent from the previous year, coupled with additional discounts during the Thanksgiving period reported by travel search engines like Kayak, further fuels the surge in travel plans. Transportation Security Administration (TSA) expects to screen 2.9 million passengers on November 26, marking one of the busiest days since June.

Notably, the port authority of New York and New Jersey is bracing for over 8.5 million travellers during the peak period, indicative of the substantial movement anticipated during this holiday season.

Thanksgiving, a symbol of gratitude and resilience, not only strengthens familial bonds but also serves as an economic barometer. As Americans navigate fluctuating costs and travel trends, the enduring significance of this holiday becomes evident, showcasing its ability to unite hearts while reflecting the economic pulse of the nation.

Thanksgiving 2023 stands as a testament to the resilience of traditions amid the ebb and flow of economic dynamics.

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Thanksgiving, a cherished American tradition, embodies unity and gratitude, tracing back to the Pilgrims' 1621 feast with Native Americans. This day transcends boundaries, fostering inclusivity as families gather to express thanks for health, prosperity, and kinship.

Thanksgiving, a cherished American tradition, embodies unity and gratitude, tracing back to the Pilgrims' 1621 feast with Native Americans. This day transcends boundaries, fostering inclusivity as families gather to express thanks for health, prosperity, and kinship. It serves as a vital reminder to pause, appreciate life's abundance, and embrace the enduring values uniting a diverse nation. As Thanksgiving 2023 approaches, the economic landscape in the United States is painting a complex picture, influencing both the cost of celebrations and travel plans. While there's a slight respite from inflation, families continue to feel the strain on their finances. According to the American Farm Bureau Federation (AFBF), the cost of a ten-person Thanksgiving dinner has decreased by 4.5 per cent from the previous year, totalling $61.17. This reduction is primarily attributed to a 5.6 per cent drop in the price of turkey, a staple of the Thanksgiving feast. However, despite this dip, the overall cost of meals remains 25 per cent higher than in 2019, underscoring the persistent challenges posed by inflation. On the travel front, Americans are gearing up for a bustling Thanksgiving. AAA, the auto club group, expects a significant 6.6 per cent increase in air travel, reaching its highest point in almost two decades, as 4.7 million people are expected to take to the skies. Meanwhile, a staggering 49.1 million Americans are set to hit the roads, marking a 1.7 per cent rise from the previous year. According to a report by GasBuddy, affordable gas prices, currently averaging $3.27 per gallon, play a pivotal role in inspiring more road trips, having fallen 25.9 cents from last month and 36.9 cents from last year. The drop in average flight prices by 9 per cent from the previous year, coupled with additional discounts during the Thanksgiving period reported by travel search engines like Kayak, further fuels the surge in travel plans. Transportation Security Administration (TSA) expects to screen 2.9 million passengers on November 26, marking one of the busiest days since June. Notably, the port authority of New York and New Jersey is bracing for over 8.5 million travellers during the peak period, indicative of the substantial movement anticipated during this holiday season. Thanksgiving, a symbol of gratitude and resilience, not only strengthens familial bonds but also serves as an economic barometer. As Americans navigate fluctuating costs and travel trends, the enduring significance of this holiday becomes evident, showcasing its ability to unite hearts while reflecting the economic pulse of the nation. Thanksgiving 2023 stands as a testament to the resilience of traditions amid the ebb and flow of economic dynamics. WATCH WION LIVE HERE

Turkey and turnaround: Thanksgiving's economic upswing

Black Friday falls on November 24, this year. Retailers are getting ready for what they think will be another record-breaking worldwide shopping frenzy.

Black Friday is typically considered to be the unofficial start of the Christmas shopping season because of the large crowds that gather at big-box stores in the early hours after American Thanksgiving to take advantage of doorbuster prices.

Retailers will be attempting to capitalise on the excitement in the US, Europe, and other regions. What to anticipate on Black Friday in 2023 is as follows.

History of the word 'Black Friday'

Police and bus drivers in Philadelphia began referring to the mayhem that a large inflow of people to the city caused before Thanksgiving weekend as "Black Friday" sometime in the 1960s and early 1970s. On Fridays, shoppers would scour Philadelphia's stores with their Christmas lists in hand, searching for the perfect presents. Parking infractions and shoplifting followed.

Department stores changed the name to "Big Friday" to give it a more uplifting connotation. However, the moniker did not endure, and since the 1980s, retailers have started characterising Black Friday as the day when customers begin their holiday shopping and their retail ledgers are purportedly "in the black," or operating at a profit, according to Marcus Collins, a marketing professor at the University of Michigan's Ross School of Business.

Retailers' plans this year

Early Black Friday "deals" of up to 30 per cent off on some limited products online and in stores are already being promoted by retailers such as Best Buy, Macy's, H&amp;M, and pure e-commerce companies like Shein and Temu.

They may gauge consumer demand and prevent product shortages, which could be a major issue this year, with the aid of such early marketing. A severe drought has caused the water levels in the Panama Canal, a vital commercial route, to plummet, which has reduced the amount of ships passing through it.

Intentionally, a lot of American retailers reduced their recruiting intentions for the holidays. Retailers in Europe are also facing a labour crisis, which means that customers may encounter a staffing shortfall.

Are this year's Black Friday crowds likely?

The National Retail Federation (NRF) reports that 130.7 million consumers are expected to shop on Black Friday this year. In the US, Thanksgiving weekend, which includes Black Friday and Cyber Monday (the Monday following Thanksgiving), is usually the busiest time to shop.

Retail analytics company Sensormatic Solutions predicts that over the holiday season, in-store traffic will decrease by 3.5 per cent from the previous year.

According to AccuWeather, rainy weather is mainly not predicted this year, which discouraged in-store traffic on Black Friday morning in various parts of the United States last year.

While the majority of American stores will remain closed on Thanksgiving this year and instead open to customers at 5 or 6 a.m. on Friday, some retailers are promoting online deals that begin at 12:01 a.m. on Thanksgiving.

Kohl's is one of them, offering what it refers to as a "Super Deal" on several items on Thanksgiving and Black Friday, such as Beats Studio Buds wireless noise-cancelling earbuds for $89.99 instead of the usual $149.99.

This year, curbside pick-up and online ordering are being promoted by both large and small retailers as convenient options for those who prefer to bypass storefronts. According to data from Adobe Analytics, American Black Friday internet sales have more than tripled in the last ten years, hitting $9.12 billion on the day last year.

This year, will shoppers find Black Friday deals?

Reuters investigation suggests that several large retailers, including Dollar General, Walmart, and Macy's, may have excess inventory for the second year in a row. To entice customers to visit their stores and websites, they probably need to provide discounts.

Research company Jane Hali &amp; Associates reported even before Black Friday that Nordstrom and Kohl's saw a decline in foot traffic, while Macy's and Kohl's had discounts of up to 60 per cent.

Online savings of up to 35 per cent on toys, 24 per cent on athletic items, and 19 per cent on furniture are anticipated, according to Adobe.

Amounts expected to be spent by shoppers?

The NRF predicts that holiday sales in U.S. stores and online will increase by 3 per cent to 4 per cent in November and December, which will be their weakest growth rate in five years.

According to Adobe Analytics, Black Friday internet spending is predicted to increase 5.7 per cent to approximately $9.6 billion.

According to a survey by fintech company Finder, 132 million Americans want to shop the pre-holiday sales, which include Black Friday and Cyber Monday, in 2023, down from a projected 140 million consumers in the previous year.

According to an Adobe projection, Black Friday online spending in the UK is anticipated to increase 4.5 per cent to $1.30 billion, with total sales throughout the Cyber Weekend set to reach $4.7 billion.

How are retailers luring holiday shoppers with their offerings?

Analysts predict that shops will need to rely on sales and early deals to survive this holiday season, as household budgets are being squeezed by the return of student loan payments and the cost of rent and necessities.

According to Deloitte statistics, consumers last year wanted to maximise promotional activities and finish their shopping in just 5.8 weeks as opposed to a 7.4-week window before the epidemic.

This year, what are the must-have items for Black Friday?

With the recent release of the iPhone 15, smartphones will once again be in demand. Customers who were hoping to purchase Apple's iPhone 14 Pro and iPhone 14 Pro Max last year came away empty-handed as the tech giant battled production issues in China.

According to a Mastercard survey, electronics are predicted to be the most popular choice this holiday shopping season, with growth of 6 per cent predicted.

A Play Station 5 bundle with "Call of Duty: Modern Warfare III" or Marvel's "Spider-Man 2" was available for $499.99 at Best Buy during the start of the retailer's Black Friday sales in late October.

Skin and hair care items are still in demand. Ulta Beauty is selling CoverGirl and Lancome mascaras, Bobbi Brown concealers, and some of its brand products at up to 40 per cent off.

(With inputs from Reuters)

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Black Friday falls on November 24, this year. Retailers are getting ready for what they think will be another record-breaking worldwide shopping frenzy. Black Friday is typically considered to be the unofficial start of the Christmas shopping season because of the large crowds that gather at big-box stores in the early hours after American Thanksgiving to take advantage of doorbuster prices.

Black Friday falls on November 24, this year. Retailers are getting ready for what they think will be another record-breaking worldwide shopping frenzy. Black Friday is typically considered to be the unofficial start of the Christmas shopping season because of the large crowds that gather at big-box stores in the early hours after American Thanksgiving to take advantage of doorbuster prices. Retailers will be attempting to capitalise on the excitement in the US, Europe, and other regions. What to anticipate on Black Friday in 2023 is as follows. History of the word 'Black Friday' Police and bus drivers in Philadelphia began referring to the mayhem that a large inflow of people to the city caused before Thanksgiving weekend as "Black Friday" sometime in the 1960s and early 1970s. On Fridays, shoppers would scour Philadelphia's stores with their Christmas lists in hand, searching for the perfect presents. Parking infractions and shoplifting followed. Department stores changed the name to "Big Friday" to give it a more uplifting connotation. However, the moniker did not endure, and since the 1980s, retailers have started characterising Black Friday as the day when customers begin their holiday shopping and their retail ledgers are purportedly "in the black," or operating at a profit, according to Marcus Collins, a marketing professor at the University of Michigan's Ross School of Business. Retailers' plans this year Early Black Friday "deals" of up to 30 per cent off on some limited products online and in stores are already being promoted by retailers such as Best Buy, Macy's, H&M, and pure e-commerce companies like Shein and Temu. They may gauge consumer demand and prevent product shortages, which could be a major issue this year, with the aid of such early marketing. A severe drought has caused the water levels in the Panama Canal, a vital commercial route, to plummet, which has reduced the amount of ships passing through it. Intentionally, a lot of American retailers reduced their recruiting intentions for the holidays. Retailers in Europe are also facing a labour crisis, which means that customers may encounter a staffing shortfall. Are this year's Black Friday crowds likely? The National Retail Federation (NRF) reports that 130.7 million consumers are expected to shop on Black Friday this year. In the US, Thanksgiving weekend, which includes Black Friday and Cyber Monday (the Monday following Thanksgiving), is usually the busiest time to shop. Retail analytics company Sensormatic Solutions predicts that over the holiday season, in-store traffic will decrease by 3.5 per cent from the previous year. According to AccuWeather, rainy weather is mainly not predicted this year, which discouraged in-store traffic on Black Friday morning in various parts of the United States last year. While the majority of American stores will remain closed on Thanksgiving this year and instead open to customers at 5 or 6 a.m. on Friday, some retailers are promoting online deals that begin at 12:01 a.m. on Thanksgiving. Kohl's is one of them, offering what it refers to as a "Super Deal" on several items on Thanksgiving and Black Friday, such as Beats Studio Buds wireless noise-cancelling earbuds for $89.99 instead of the usual $149.99. This year, curbside pick-up and online ordering are being promoted by both large and small retailers as convenient options for those who prefer to bypass storefronts. According to data from Adobe Analytics, American Black Friday internet sales have more than tripled in the last ten years, hitting $9.12 billion on the day last year. This year, will shoppers find Black Friday deals? Reuters investigation suggests that several large retailers, including Dollar General, Walmart, and Macy's, may have excess inventory for the second year in a row. To entice customers to visit their stores and websites, they probably need to provide discounts. Research company Jane Hali & Associates reported even before Black Friday that Nordstrom and Kohl's saw a decline in foot traffic, while Macy's and Kohl's had discounts of up to 60 per cent. Online savings of up to 35 per cent on toys, 24 per cent on athletic items, and 19 per cent on furniture are anticipated, according to Adobe. Amounts expected to be spent by shoppers? The NRF predicts that holiday sales in U.S. stores and online will increase by 3 per cent to 4 per cent in November and December, which will be their weakest growth rate in five years. According to Adobe Analytics, Black Friday internet spending is predicted to increase 5.7 per cent to approximately $9.6 billion. According to a survey by fintech company Finder, 132 million Americans want to shop the pre-holiday sales, which include Black Friday and Cyber Monday, in 2023, down from a projected 140 million consumers in the previous year. According to an Adobe projection, Black Friday online spending in the UK is anticipated to increase 4.5 per cent to $1.30 billion, with total sales throughout the Cyber Weekend set to reach $4.7 billion. How are retailers luring holiday shoppers with their offerings? Analysts predict that shops will need to rely on sales and early deals to survive this holiday season, as household budgets are being squeezed by the return of student loan payments and the cost of rent and necessities. According to Deloitte statistics, consumers last year wanted to maximise promotional activities and finish their shopping in just 5.8 weeks as opposed to a 7.4-week window before the epidemic. This year, what are the must-have items for Black Friday? With the recent release of the iPhone 15, smartphones will once again be in demand. Customers who were hoping to purchase Apple's iPhone 14 Pro and iPhone 14 Pro Max last year came away empty-handed as the tech giant battled production issues in China. According to a Mastercard survey, electronics are predicted to be the most popular choice this holiday shopping season, with growth of 6 per cent predicted. A Play Station 5 bundle with "Call of Duty: Modern Warfare III" or Marvel's "Spider-Man 2" was available for $499.99 at Best Buy during the start of the retailer's Black Friday sales in late October. Skin and hair care items are still in demand. Ulta Beauty is selling CoverGirl and Lancome mascaras, Bobbi Brown concealers, and some of its brand products at up to 40 per cent off. (With inputs from Reuters) WATCH WION LIVE HERE

Unveiling Black Friday: Must-have deals in high demand ahead of shopping frenzy

Trick or treat! Halloween, far from being just a night of scares and sweets, has become a major economic fiesta, at least in the United States.&nbsp;

While the spirits of All Hallows' Eve might seem to favour spooky fun and frolics, the holiday has quietly transformed into a commercial fiesta that sends chills down the spine of the world economy. From costumes to candy, decorations to haunted attractions, Halloween has become a massive industry that contributes significantly to the economy.

Halloween is celebrated every year on the 31st of October. It's a day that is known for its orange and black decorations as well as its spooky costumes. But Halloween is not just about the decorations and costumes; it has a far-reaching impact and plays a significant role in various sectors and industries. 
Americans are gearing up to spend a staggering $12.2 billion on all things Halloween, from eerie yard decorations and the perfect costumes to tantalizingly sweet and sour candy, fostering participation among a spine-tingling 73 per cent of the population, according to the National Retail Federation (NRF).

The NRF estimates that the average American will invest approximately $108 in Halloween paraphernalia, underscoring that this haunting holiday isn’t just for the little ghouls and goblins but entices all age groups to join in the fun.

In 2023, families are projected to shell out an impressive $1.4 billion on children's costumes and an even more formidable $2 billion on adult costumes, revealing the extent of enthusiasm across all demographics for this ghostly celebration.

It's not just the neighbourhoods that are decked out in Halloween attire; college campuses are experiencing a significant surge in Halloween revelry.

Interestingly, Halloween holds the ghoulishly delightful No. 5 spot for overall alcohol consumption on holidays, according to a study conducted by Mountain Side, an alcohol and drug rehabilitation organisation.

During the spooky season, costumes play a significant role in generating revenue. Consumers worldwide are more willing to spend on intricate and innovative costumes, not just for kids but also for adults who enjoy the revelry. This increased demand contributes significantly to the fashion and retail industries' bottom line, with brands and retailers profiting from the seasonal craze.

Halloween isn't just about costumes. The business of decorations and party supplies plays a significant role in driving the economy. From pumpkins and cobwebs to skeletal figurines and eerie lighting, the demand for Halloween-themed home décor has created a robust market for retailers. This has contributed to an upsurge in sales before the Halloween season. It's not just residential areas that are feeling the spooky vibes; businesses, both big and small, capitalise on the craze by decorating offices, restaurants, and public spaces. This further boosts the economic activity surrounding the holiday.

Halloween is a season when candy sales skyrocket like witches on broomsticks. Confectionery and chocolate companies experience a massive surge in demand, with the sales of spooky-shaped chocolates and candies hitting record numbers. To entice consumers, companies strategically roll out seasonal and limited-edition treats, resulting in increased sales and profits.

As Halloween approaches, the entertainment industry also joins in on the money-making frenzy. Amusement parks, haunted houses, and other spooky attractions utilise the season to offer terrifying experiences and themed events that attract crowds, generating significant revenue. Themed events, parties, and seasonal experiences have become significant contributors to the leisure and entertainment industries, both locally and internationally.

Halloween is a celebration that not all businesses benefit from. Health and wellness-related firms might face difficulties as consumers indulge in sugary treats, leading to post-Halloween guilt and a rise in gym memberships. Additionally, eco-conscious individuals are worried about the environmental effects of Halloween, with the mass production of single-use costumes and decorations contributing to waste and carbon footprint issues.

Halloween isn't just a holiday celebrated in a few countries like the US. It has become a global phenomenon that benefits the world economy. Manufacturers, suppliers, and retailers from various parts of the world contribute to the production and distribution of Halloween goods and services.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Trick or treat! Halloween, far from being just a night of scares and sweets, has become a major economic fiesta, at least in the United States. While the spirits of All Hallows' Eve might seem to favour spooky fun and frolics, the holiday has quietly transformed into a commercial fiesta that sends chills down the spine of the world economy.

Trick or treat! Halloween, far from being just a night of scares and sweets, has become a major economic fiesta, at least in the United States. While the spirits of All Hallows' Eve might seem to favour spooky fun and frolics, the holiday has quietly transformed into a commercial fiesta that sends chills down the spine of the world economy. From costumes to candy, decorations to haunted attractions, Halloween has become a massive industry that contributes significantly to the economy. Halloween is celebrated every year on the 31st of October. It's a day that is known for its orange and black decorations as well as its spooky costumes. But Halloween is not just about the decorations and costumes; it has a far-reaching impact and plays a significant role in various sectors and industries. Americans are gearing up to spend a staggering $12.2 billion on all things Halloween, from eerie yard decorations and the perfect costumes to tantalizingly sweet and sour candy, fostering participation among a spine-tingling 73 per cent of the population, according to the National Retail Federation (NRF). The NRF estimates that the average American will invest approximately $108 in Halloween paraphernalia, underscoring that this haunting holiday isn’t just for the little ghouls and goblins but entices all age groups to join in the fun. In 2023, families are projected to shell out an impressive $1.4 billion on children's costumes and an even more formidable $2 billion on adult costumes, revealing the extent of enthusiasm across all demographics for this ghostly celebration. It's not just the neighbourhoods that are decked out in Halloween attire; college campuses are experiencing a significant surge in Halloween revelry. Interestingly, Halloween holds the ghoulishly delightful No. 5 spot for overall alcohol consumption on holidays, according to a study conducted by Mountain Side, an alcohol and drug rehabilitation organisation. During the spooky season, costumes play a significant role in generating revenue. Consumers worldwide are more willing to spend on intricate and innovative costumes, not just for kids but also for adults who enjoy the revelry. This increased demand contributes significantly to the fashion and retail industries' bottom line, with brands and retailers profiting from the seasonal craze. Halloween isn't just about costumes. The business of decorations and party supplies plays a significant role in driving the economy. From pumpkins and cobwebs to skeletal figurines and eerie lighting, the demand for Halloween-themed home décor has created a robust market for retailers. This has contributed to an upsurge in sales before the Halloween season. It's not just residential areas that are feeling the spooky vibes; businesses, both big and small, capitalise on the craze by decorating offices, restaurants, and public spaces. This further boosts the economic activity surrounding the holiday. Halloween is a season when candy sales skyrocket like witches on broomsticks. Confectionery and chocolate companies experience a massive surge in demand, with the sales of spooky-shaped chocolates and candies hitting record numbers. To entice consumers, companies strategically roll out seasonal and limited-edition treats, resulting in increased sales and profits. As Halloween approaches, the entertainment industry also joins in on the money-making frenzy. Amusement parks, haunted houses, and other spooky attractions utilise the season to offer terrifying experiences and themed events that attract crowds, generating significant revenue. Themed events, parties, and seasonal experiences have become significant contributors to the leisure and entertainment industries, both locally and internationally. Halloween is a celebration that not all businesses benefit from. Health and wellness-related firms might face difficulties as consumers indulge in sugary treats, leading to post-Halloween guilt and a rise in gym memberships. Additionally, eco-conscious individuals are worried about the environmental effects of Halloween, with the mass production of single-use costumes and decorations contributing to waste and carbon footprint issues. Halloween isn't just a holiday celebrated in a few countries like the US. It has become a global phenomenon that benefits the world economy. Manufacturers, suppliers, and retailers from various parts of the world contribute to the production and distribution of Halloween goods and services. WATCH WION LIVE HERE

Haunting Economics: Halloween’s spooky influence on the global economy

Fashion, a constantly changing form of self-expression, is vibrant and innovative. A sartorial symphony reflecting our always-changing reality, it is more than just clothing. It is the art of identification. Fashion is a canvas for creativity, a cultural barometer, and a stage for individual and societal narratives. Its appeal ranges from the timeless attraction of classic elegance to the daring revolutionary. Its trends are current and get media attention, making it an exciting voyage through the evolution of fashion in our fast-paced society.

A significant change in consumer and industry values has given rise to the transformative movement known as sustainable fashion in the apparel industry. It stands for a deliberate break from the wasteful, exploitative methods of rapid fashion, promoting ethical labour, responsible production, and environmental stewardship. Sustainable fashion is fundamentally about making an effort to lessen the environmental impact of clothing and fabrics. This entails reducing the use of hazardous chemicals while utilizing eco-friendly materials like organic cotton, recycled fibres, and cutting-edge substitutes. Additionally, it promotes a comprehensive strategy that includes everything from design and sourcing to manufacturing and distribution.

The ethical treatment of employees across the supply chain is a key component of sustainable fashion. It promotes just pay, secure working conditions, and an end to child labour. Parallel to this, the sustainable fashion concept places a strong emphasis on accountability and transparency, which helps consumers make trusted decisions. As guiding principles, quality and durability encourage customers to invest in long-lasting, classic pieces rather than fad-driven fashions. The idea also encompasses promoting artisanal and local industry, lowering carbon emissions, and preserving traditional workmanship. As sustainable fashion gains popularity, it not only reduces its negative environmental effects but also transforms the sector into one that is more socially conscious, progressive, and equal.

Sustainable fashion communication guidelines

The United Nations Environment Programme (UNEP) states that some of the principles for sustainable fashion communication are provided in their sustainable fashion playbook. The goals of the principles are to give communicators guidelines and standards for the best ways to communicate in a sustainable approach.

Principle 1: Commit to transparent and evidence-based communication 
Principle 2: Make sure the data is shared understandably and conveniently in the way 
Principle 3: Eliminate all encouraging messaging consumption excess 
Principle 4: Promote optimism modifications and illustrate accessible circle remedies to assist people in living more sustainable ways of living 
Principle 5: Highlight new position ideas and concepts related to ambition or triumph 
Principle 6: Give inclusiveness priority to advertising and narrative that honours the favourable ecological social and cultural norms of attire 
Principle 7: Encourage and organise the public to support the more extensive shift 
Principle 8: Encourage communication with leaders and decision-makers to Facilitate broader sector sustainability

Reducing the environmental and social footprint of the creation and production of any kind of communication asset or event, from fashion week shows and set design to photoshoots and filming, should be the cornerstone of all efforts towards sustainable fashion communication. This also applies to the messaging that is distributed. When possible, the outcome should have good effects with negligible negative effects.

Evolving Sustainably: The Past, Present, and Future of Fashion

Sustainable fashion has advanced significantly. The fashion business used to be dominated by fast fashion, which was characterised by ephemeral, disposable trends and unethical work practices. It was a period of extreme overconsumption and disregard for the environment. But when players in the industry and consumers learned more about these problems, a change towards more responsible behaviour developed.

The sustainable fashion industry is becoming&nbsp;more powerful these days, while taking key&nbsp;decisions like employing sustainable resources, moral labour, and open supply chains. The integration of eco-conscious lines and activities by large brands has led to the mainstreaming of sustainable fashion. It now forms a substantial portion of the fashion landscape rather than remaining a niche market.

With an eye towards the future, sustainable fashion is expected to keep expanding. Sustainable materials and industrial processes will be driven by innovation and technology. Systems of circular fashion will flourish, highlighting the significance of upcycling and recycling. The industry will probably be pushed to become even more environmentally conscious and accountable by consumer education and demands for openness. Fashion of the future will be more responsible and environmentally friendly, reflecting a society that prioritises sustainability and style.

The Economic Edge of Sustainable Fashion

Not only is sustainable fashion good for the environment, but it also has big financial benefits. Companies that embrace sustainable practices frequently see lower production costs as a result of waste reduction and resource efficiency. Additionally, new economic prospects are presented by the increased demand for eco-friendly fashion, which appeals to an environment-conscious&nbsp;consumer base. It improves the reputation of the brand and might result in more sales and more devoted customers.

Sustainable fashion is expanding quickly, especially online as customers feel more at ease purchasing from home, even for goods that are often associated with physical businesses. The market for sustainable fashion is anticipated to increase steadily from $6.3 billion in 2019 to $8.2 billion in 2023, according to Research And Markets. That growth is anticipated to reach $15.2 billion between 2025 and 2030. 
&nbsp; 
Furthermore, innovation is stimulated by sustainable practices, leading to the creation of environmentally friendly materials and technology. In general, sustainable fashion fosters both financial and environmental sustainability, making it a wise investment for businesses due to its economic benefits.

Fashion, a constantly changing form of self-expression, is vibrant and innovative. A sartorial symphony reflecting our always-changing reality, it is more than just clothing.

Fashion, a constantly changing form of self-expression, is vibrant and innovative. A sartorial symphony reflecting our always-changing reality, it is more than just clothing. It is the art of identification. Fashion is a canvas for creativity, a cultural barometer, and a stage for individual and societal narratives. Its appeal ranges from the timeless attraction of classic elegance to the daring revolutionary. Its trends are current and get media attention, making it an exciting voyage through the evolution of fashion in our fast-paced society. A significant change in consumer and industry values has given rise to the transformative movement known as sustainable fashion in the apparel industry. It stands for a deliberate break from the wasteful, exploitative methods of rapid fashion, promoting ethical labour, responsible production, and environmental stewardship. Sustainable fashion is fundamentally about making an effort to lessen the environmental impact of clothing and fabrics. This entails reducing the use of hazardous chemicals while utilizing eco-friendly materials like organic cotton, recycled fibres, and cutting-edge substitutes. Additionally, it promotes a comprehensive strategy that includes everything from design and sourcing to manufacturing and distribution. The ethical treatment of employees across the supply chain is a key component of sustainable fashion. It promotes just pay, secure working conditions, and an end to child labour. Parallel to this, the sustainable fashion concept places a strong emphasis on accountability and transparency, which helps consumers make trusted decisions. As guiding principles, quality and durability encourage customers to invest in long-lasting, classic pieces rather than fad-driven fashions. The idea also encompasses promoting artisanal and local industry, lowering carbon emissions, and preserving traditional workmanship. As sustainable fashion gains popularity, it not only reduces its negative environmental effects but also transforms the sector into one that is more socially conscious, progressive, and equal. Sustainable fashion communication guidelines The United Nations Environment Programme (UNEP) states that some of the principles for sustainable fashion communication are provided in their sustainable fashion playbook. The goals of the principles are to give communicators guidelines and standards for the best ways to communicate in a sustainable approach. Principle 1: Commit to transparent and evidence-based communication Principle 2: Make sure the data is shared understandably and conveniently in the way Principle 3: Eliminate all encouraging messaging consumption excess Principle 4: Promote optimism modifications and illustrate accessible circle remedies to assist people in living more sustainable ways of living Principle 5: Highlight new position ideas and concepts related to ambition or triumph Principle 6: Give inclusiveness priority to advertising and narrative that honours the favourable ecological social and cultural norms of attire Principle 7: Encourage and organise the public to support the more extensive shift Principle 8: Encourage communication with leaders and decision-makers to Facilitate broader sector sustainability Reducing the environmental and social footprint of the creation and production of any kind of communication asset or event, from fashion week shows and set design to photoshoots and filming, should be the cornerstone of all efforts towards sustainable fashion communication. This also applies to the messaging that is distributed. When possible, the outcome should have good effects with negligible negative effects. Evolving Sustainably: The Past, Present, and Future of Fashion Sustainable fashion has advanced significantly. The fashion business used to be dominated by fast fashion, which was characterised by ephemeral, disposable trends and unethical work practices. It was a period of extreme overconsumption and disregard for the environment. But when players in the industry and consumers learned more about these problems, a change towards more responsible behaviour developed. The sustainable fashion industry is becoming more powerful these days, while taking key decisions like employing sustainable resources, moral labour, and open supply chains. The integration of eco-conscious lines and activities by large brands has led to the mainstreaming of sustainable fashion. It now forms a substantial portion of the fashion landscape rather than remaining a niche market. With an eye towards the future, sustainable fashion is expected to keep expanding. Sustainable materials and industrial processes will be driven by innovation and technology. Systems of circular fashion will flourish, highlighting the significance of upcycling and recycling. The industry will probably be pushed to become even more environmentally conscious and accountable by consumer education and demands for openness. Fashion of the future will be more responsible and environmentally friendly, reflecting a society that prioritises sustainability and style. The Economic Edge of Sustainable Fashion Not only is sustainable fashion good for the environment, but it also has big financial benefits. Companies that embrace sustainable practices frequently see lower production costs as a result of waste reduction and resource efficiency. Additionally, new economic prospects are presented by the increased demand for eco-friendly fashion, which appeals to an environment-conscious consumer base. It improves the reputation of the brand and might result in more sales and more devoted customers. Sustainable fashion is expanding quickly, especially online as customers feel more at ease purchasing from home, even for goods that are often associated with physical businesses. The market for sustainable fashion is anticipated to increase steadily from $6.3 billion in 2019 to $8.2 billion in 2023, according to Research And Markets. That growth is anticipated to reach $15.2 billion between 2025 and 2030. Furthermore, innovation is stimulated by sustainable practices, leading to the creation of environmentally friendly materials and technology. In general, sustainable fashion fosters both financial and environmental sustainability, making it a wise investment for businesses due to its economic benefits.

Green is the new black: Sustainable fashion takes center stage

Whenever a recession hits the world economy, women have found themselves at the centre of a distinct struggle, facing various obstacles unique to their gender. As economic pressures intensified, wage disparities widened, and access to opportunities dwindled. 
&nbsp; 
A recession is an economic downturn with reduced economic activity, lower GDP, higher unemployment, and less spending and investment. Various factors can cause it and have adverse effects on businesses, jobs, and overall economic growth.

The ongoing global economic downturn is having a notable impact on women. According to research conducted by the International Labour Organisation, women on an average earn 20 per cent less than men, although this figure varies considerably across different countries.

Moreover, a recent Bankrate survey revealed that 74 per cent of women are more concerned about the potential economic downturn as compared to 65 per cent&nbsp;of men. This is due to the disparities between the two genders in preparing for an economic downturn.&nbsp;

Despite some progress in recent years, it is common knowledge that women still confront greater financial vulnerability than men. Persistent gender pay gap, particularly for women of colour and mothers, adversely affects their capacity to accumulate wealth. This inequality also poses a challenge to their ability to manage debt, ranging from credit card balances to student loans.

"Recession affects labour markets. Lack of skilling and mobility constraints can delay the process of women reentering the labour markets once they lose jobs due to recession," said NIPFP professor and economist Lekha S. Chakraborty.

Recessions' Dual Consequences for Women

In times of economic downturn, men and women encounter distinct economic difficulties due to a range of factors.

"Men and women are at asymmetric levels of socio-economic development. The key factors that can widen the disparity are the differentials in access and utilisation of education, health, and wage and workforce participation," said Lekha.

In times of uncertainty, women tend to have more caregiving responsibilities, which can hinder their ability to work full-time. Moreover, the existing gender pay gap exacerbates the situation since women are already paid less than men even before a recession hits.&nbsp;

Consequently, economic downturns can have a disproportionate impact on women, leading to what is known as a "shecession" -- economic recession&nbsp;that impacts women more than men.

Care Economy Gap: Fueling Gender Disparities

"Lack of care economy infrastructure is a significant factor that led to gender differentials," stated Lekha Chakraborty.

Care economy includes those activities that address the physical, psychological, and emotional needs of adults, children, the elderly, the young, the frail, and the physically fit.

The lack of a care economy has resulted in insufficient support systems for childcare, eldercare, and domestic responsibilities, which disproportionately affect women's economic situation. 
&nbsp; 
As a consequence, this sustains the cycle of gender inequality, hindering their professional growth and financial independence. It is imperative to address the care economy gap to create a more equitable society that allows both men and women to fully participate in the workforce while fulfilling important caregiving responsibilities.

Crisis Ripple Effect: Women's Excess Burden in Recessions

The impact of a crisis is extensive, and women often shoulder a disproportionate amount of added responsibilities during times of economic hardship. The effects of these difficulties can have long-lasting consequences on the lives of women.

Lekha said that recession affects the government's fiscal space, which has a major consequence on the well-being of women.&nbsp;

"If the government reduces health budgets during a recession, the care economy burden of women will increase as the decreased days of hospitalisation is compensated by the care providers at home. The dual work burden of women increases in recession as there are fewer options for market-based services in the care sector during recessions," she said.&nbsp;

"The violence against women increases during recessions, and the role of the state machinery to support women from violence is significant," she added.&nbsp;

Whenever a recession hits the world economy, women have found themselves at the centre of a distinct struggle, facing various obstacles unique to their gender. As economic pressures intensified, wage disparities widened, and access to opportunities dwindled.

Whenever a recession hits the world economy, women have found themselves at the centre of a distinct struggle, facing various obstacles unique to their gender. As economic pressures intensified, wage disparities widened, and access to opportunities dwindled. A recession is an economic downturn with reduced economic activity, lower GDP, higher unemployment, and less spending and investment. Various factors can cause it and have adverse effects on businesses, jobs, and overall economic growth. The ongoing global economic downturn is having a notable impact on women. According to research conducted by the International Labour Organisation, women on an average earn 20 per cent less than men, although this figure varies considerably across different countries. Moreover, a recent Bankrate survey revealed that 74 per cent of women are more concerned about the potential economic downturn as compared to 65 per cent of men. This is due to the disparities between the two genders in preparing for an economic downturn. Despite some progress in recent years, it is common knowledge that women still confront greater financial vulnerability than men. Persistent gender pay gap, particularly for women of colour and mothers, adversely affects their capacity to accumulate wealth. This inequality also poses a challenge to their ability to manage debt, ranging from credit card balances to student loans. "Recession affects labour markets. Lack of skilling and mobility constraints can delay the process of women reentering the labour markets once they lose jobs due to recession," said NIPFP professor and economist Lekha S. Chakraborty. Recessions' Dual Consequences for Women In times of economic downturn, men and women encounter distinct economic difficulties due to a range of factors. "Men and women are at asymmetric levels of socio-economic development. The key factors that can widen the disparity are the differentials in access and utilisation of education, health, and wage and workforce participation," said Lekha. In times of uncertainty, women tend to have more caregiving responsibilities, which can hinder their ability to work full-time. Moreover, the existing gender pay gap exacerbates the situation since women are already paid less than men even before a recession hits. Consequently, economic downturns can have a disproportionate impact on women, leading to what is known as a "shecession" -- economic recession that impacts women more than men. Care Economy Gap: Fueling Gender Disparities "Lack of care economy infrastructure is a significant factor that led to gender differentials," stated Lekha Chakraborty. Care economy includes those activities that address the physical, psychological, and emotional needs of adults, children, the elderly, the young, the frail, and the physically fit. The lack of a care economy has resulted in insufficient support systems for childcare, eldercare, and domestic responsibilities, which disproportionately affect women's economic situation. As a consequence, this sustains the cycle of gender inequality, hindering their professional growth and financial independence. It is imperative to address the care economy gap to create a more equitable society that allows both men and women to fully participate in the workforce while fulfilling important caregiving responsibilities. Crisis Ripple Effect: Women's Excess Burden in Recessions The impact of a crisis is extensive, and women often shoulder a disproportionate amount of added responsibilities during times of economic hardship. The effects of these difficulties can have long-lasting consequences on the lives of women. Lekha said that recession affects the government's fiscal space, which has a major consequence on the well-being of women. "If the government reduces health budgets during a recession, the care economy burden of women will increase as the decreased days of hospitalisation is compensated by the care providers at home. The dual work burden of women increases in recession as there are fewer options for market-based services in the care sector during recessions," she said. "The violence against women increases during recessions, and the role of the state machinery to support women from violence is significant," she added.

'Shecession': How women are more impacted by economic downturns

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Hanshika Ujlayan

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