Icelanders own fewer jeans than before the financial crash in 2008. Clothing retail business in Iceland has been in constant recession since the crash and its revenue now is 39% less than in 2007.
Icelanders are either buying more of their clothes abroad or simply not buying as many clothing items as they used to, Mbl.is reports.
“Many people describe the situation so that during the boom years, they owned about 3-4 pairs of quality jeans. Now, they only have 1-2 pairs. That makes a lot of difference,” Andrés Magnússon, manager of the Federation of Trade & Services, told Morgunblaðið.