During our school days, we were taught to measure a nation’s economy to see whether it is flourishing or is going down the graph. A simple or not-so-simple way of doing this is by measuring economic indicators such as gross domestic product (GDP), international trade, budget plans, etc.
However, have you ever used underwear to measure the economy? Strange, no?
The Economy Is Hidden In Undergarments
Measuring the economy using undergarments is strange, no doubt, but there’s a logic behind the same. It is witnessed that whenever a nation isn’t doing economically well, the sales of undergarments fall as well.
It happens because people want to save money and spend the same on items that are necessary. Undergarments are intimate products, and no one except you knows what you are wearing on the inside.
Thus, it is considered okay to wear underwear that has loose elastic and holes everywhere, but there shouldn’t be a hole in the pocket!
High Underwear Sales Are Equivalent To A Flourishing Economy
It was Alan Greenspan, US Federal Reserve’s former head who gave this theory. He said that men usually avoid buying underwear when they are struggling to manage their finances, and when the economy’s graph goes up, they fill their almirahs with ample underwear.
If we are to go by sales of Big W; when the world was locked inside the four walls due to COVID 19 pandemic, the sales of underwear dropped. Nevertheless, the sales increased when the restrictions were relaxed.
An IBISWorld spokesman said, “Most men perceive underwear as a luxury purchase and tend to reduce spending on these products during periods of economic uncertainty.”
In India, top brands selling undergarments like Lux Cozi, Dollar, and Rupa, report that sales go drastically down during financial crunches. During Diwali of 2019, there was a boost in sales of apparel, but when it comes to undergarments, there were hardly any sales. It is clear that people are less concerned about what they wear inside.
Can Underwear Be Used To Determine The Health Of An Economy?
Saying that the economy is doing great when sales of briefs go up is okay. But, can we really use it to determine the economic state of a nation? Obviously not!
According to an associate professor teaching at Macquarie University Business School, Jana Bowden, sales of briefs can be an index, but using it entirely would definitely provide “shaky results”.
During the time when COVID 19 was at its peak, sales of cosmetic products like lipsticks went down because we wore masks. So, would we say that the economy is facing a hard time? No, because at the same time, sales of athleisure wear grew.
Hence, it can be said that undergarments can be an index, but using it to determine the economy would result in unreliable results.
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Feature image designed by Saudamini Seth
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This post is tagged under: underwear, undergarment, men’s undergarment, briefs, Rupa, Lux Cozy, economy, recession, sales
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