Increasing US Unemployment Rate Causes Spike in Necktie Sales

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Despite recent reports that neckties are going out of style, necktie sales are experiencing a record high. A California based necktie retailer links the increase in sales to the rising US unemployment rate.

More people are buying more ties at lower prices

With the increase in the US unemployment rate and a decline in consumer spending, many retailers face harder times than ever. Especially hard hit are retailers of luxury items. But for one California-based online retailer, necktie sales are up by over 30% in 2008.

Neckties have often been considered a luxury item that experiences higher demands as income goes up. Online necktie retailer Ties-Necktie.com is experiencing the opposite to be true in today's economy. "The necktie is in fact a necessity," says founder Hendrik Pohl. "Neckties are in increasing demand as our unemployment rate goes up."

The US unemployment rate has risen by over 15% over the last 12 months, and over 8 million people are actively looking for work. Employers now have a much larger pool of qualified candidates available to fill one of the few open job positions. With increased competitiveness, jobseekers look for new ways to get an edge over other applicants, and a professional attire of suit and tie is an easy way to make a good first impression.

In addition to all the job-seekers out there that feel the need to dress professionally for their interviews, existing employees feel the pressure "to-give-it-their-all" to keep their jobs. "It seems like the further you are down the food chain, the more likely you will need to wear a necktie," says Pohl. While it is true that the necktie is on the decline for upper management, the middle management class wears more neckties than ever.

Even though more neckties are being bought, the average person spends less money per tie. "Especially popular are our discount silk ties, where we offer quality silk ties as low as $12.95, and over 50% off our regular retail prices," says Pohl. Ties-Necktie's sales revenue is up over 30% YTD. Even more surprising is that the number of neckties sold has almost doubled over last year's number. "More people are buying more ties at lower prices," Pohl explains.

For additional information on Increasing US Unemployment Rate Causes Spike in Necktie Sales, contact "Hendrik Pohl" or visit http://www.ties-necktie.com.

About Ties-Necktie.com
Ties-Necktie.com is an online retailer specializing in European designed neckties, and is an independent subsidiary of United E-Commerce in Hannover, Germany. Ties-Necktie.com holds their own inventory and fulfills all their orders through their US location in San Francisco, CA. By employing their own in-house fashion designers and outsourcing their production to China, Ties-Necktie is able to offer the latest, high quality, and most fashionable necktie designs at very reasonable prices.

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Hendrik Pohl
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