Conspicuous Consumption

Paris, while it might not be home to the most conspicuous consumers, is visited by them nonetheless, due to being the home to many luxury goods.

In this economy, not only are the super-wealthy being downgraded to merely wealthy, but many aspiring to great wealth have been derailed by the global financial downturn. As a result, blatant displays of luxury are frowned upon.

Another result, probably closer to home to most people, is that many who were formerly outsourcing errands in some way, be it by going to the nail salon, hiring a dogwalker or employing household staff, are scaling back.