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9.19.2011

STORES PREPARE TO LOSE STUDENT SHOPPERS
Owner of Lipsy, Lord Wolfson, has warned that young fashion is the most threatened category on the high street. He said, "16 to 22-year-olds were isolated from the credit crunch, but now they're feeling increased fees at universities and the realisation that the debt they're taking on is real." With the new tuition fees, it may be more difficult for stores to get students to part with their cash.
Student discount is creeping into a few new stores and Topman now regularly double their discount of 10% to 20% for limited periods of time. In Newcastle, shopping center Eldon Square is hosting a late night student event which encourages stores to increase their student discount for the day. Events and student offers such as these may continue to rise over the next year in preparation for the introduction of the mostly £9000 per year university fees.
A high percentage of the high street is targeted at 16 to 22-year-olds.They all contribute to the overall £21 billion that fashion injects into the economy each year.
Wolfson says, "It does bring risk. We'll have to make bigger calls on fashion but it's one that we're prepared to take."

I will be on BBC Breakfast on Wednesday 21st September to discuss the new tuition fees. If you have any points you'd like me to make about the increase, please don't hesitate to comment. You can also email me at hollyannehobkirk@hotmail.com .