Consumers are trading down, and luxury continues to grow

In this episode:

◇ Premium fashion labels are starting to feel some consumer uncertainty as Hugo Boss, and Ted Baker issue statements suggesting they will miss their quarterly targets. This underscores a larger shift that is showing a reduction in consumer spending in the middle markets.

◇ At the mass consumption end of the price market, have customers hit peak happiness? Morgan Stanley analyst Geoff Ruddell says they have - at least in clothing. Clothing sales in developed countries have been stagnant or declining.

◇ A late Thanksgiving will have a significant effect on the shopping period, and retailers have a smaller window to drive sales. Last year, retailers had five weekends and 33 days between Thanksgiving and Christmas. This year, they're down to four weekends and just 27 days.