Economy Leaves No-Risk Fashion Mired in Mediocrity

The transcript discusses how economic slowdowns lead to cautious behavior in fashion, with a preference for incremental changes. It highlights the lack of leadership in times of low growth and introduces the concept of 'normcore' fashion, characterized by bland and generic clothing choices.

What does the speaker mean by 'incremental change' as opposed to 'radical change'?

In what ways does the speaker describe the current economic climate?