Tie Sales and Expensive Wines Could Be A Good Barometer For Our Economy
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Updated: 7:18 PM Oct 6, 2009
Tie Sales and Expensive Wines Could Be A Good Barometer For Our Economy
As the economy gets better, more of us are willing to forget frugal and spring for more expensive luxuries.
Posted: 7:18 PM Oct 6, 2009
Reporter: Kristin Burke
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Our jobless rate and car and home sales have been pegged as the strongest indicators of the direction our economy is headed. But 23 news economic reporter Kristin Burke tell us about some past trend setters that are proving to be a good barometer for our current economic health...Men's ties and expensive wines.

Nats (cheers)

While some of us are going out to dinner less.. the tough economic times hasn't put the cork on wine sales.

"People are coming maybe 2 to 3 days a week instead of 5 or so ."

Rockford's Franchesco's Restaurant has sold 20 thousand glasses of wine in the last four months.

Ricky Rambissoon has noticed more value-conscious customers ordering lower priced wines as a result of the recession... But in the last 6 weeks, he's seen a jump in diners willing to shell out more green for a glass of red and white... A good sign that things are getting better.

" Now they are willing to spend 75-100 for a bottle and it is going fairly well."

"Another way perhaps we can tell the economy is on the mend is a surge in men's neck wear sales. The brighter the tie, the better men feel about their wallets and their jobs."

" A tie reflects your personality and what your feeling."

Men generally cut back on tie purchases when things are tough... But lately more and more guys are shopping at Sturtevants... willing to once again pay a premium for a fancy tie.

" Bright colors strips it is the fashion statement today."

Sheldon thinks current neck wear sales are tied to good things to come as more men suit up for success. Success also fore-casted by the consumption of more expensive wines.

In Rockford Kristin Burke 23 News right now


Latest Comments

Posted by: Fran Peabody Location: Belvidere on Oct 6, 2009 at 08:41 PM

Neat idea for a story ! Well done. I can admit as a coporate headhunter, nice ties and pricey vino were the first things I cut back on as the economy began to tank. Lately, I know my friends and I, have started spending money on these things again. A good tie is priceless!
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