Five years ago, Jean Paul Gaultier, Anna Sui and Alexander McQueen were names reserved strictly for red carpets, couture runway shows and the glossy pages of Vogue. Today, however, you can stroll into discount retail chain Target and purchase these designer labels at affordable prices. And while British accessory brand Jimmy Choo was once synonymous only with the likes of Carrie Bradshaw and Elle Woods, starting Nov. 14, the brand will launch a holiday collection of clothing, handbags and shoes at popular chain store H&M.

Since the country entered a recession late last year, the fashion industry has taken a hit as consumers shift their priorities away from the joys of retail therapy and focus instead on living frugally.

As a result, many high-end designers have responded to ailing sales by creating limited-time lines targeted at the average consumer rather than the glamorous elite. These developments have been met with overwhelming enthusiasm from fashion- and budget-conscious people everywhere, with blogs like “The Recessionista” eagerly following the new lines and lower price tags that have become a trademark of the country’s poor economic climate.

But, when a pair of shoes that once cost $500 now costs $50 at H&M, one has to wonder if this could be the end of the super-exclusive, often unattainable world of high fashion.

Some, like Laura Solomon, a Binghamton University senior and president of the Fashion Industry Club, say that these lines can only help the fashion industry because they make fashion accessible and encourage an interest in fashion.

“Designers are realizing to really become successful, they need to appeal to all different kinds of markets, including the lower-priced ones,” Solomon said. “These cheaper lines are good for the fashion industry because they get the average person interested in new designers and fashions. They might be prone to buy more fashion magazines or other products.”

The recession, it seems, has facilitated a change in the spending habits of all consumers. Extravagant spending is not what used to be and high-end designers have had to adapt to even the very wealthy spending less.

Stephen McGruder, owner of the Downtown Binghamton clothing store Stephen’s Vintage Clothing and former fashion reporter, says he understands why cheaper lines can be beneficial to both the company and the consumer.

“It used to be that, say, 20 percent of women could afford couture, now it is something like eight percent,” McGruder said. “Even millionaires are on budgets.”

When such household names introduce limited-time “diffusion” lines, it is often a foolproof way to ensure sales, McGruder explained.

“In some ways it works. It’s sort of sacrosanct. People who are in the know and recognize these designers will go and snatch up these lines. When Karl Lagerfeld did a line for H&M, sunglasses that retailed for $5 sold for $300 online,” McGruder said.

Even more affordable luxury brands like Coach have altered their marketing strategies to fit a recession mindset.

In July 2009, Coach debuted the “Poppy” collection, a youthful line of handbags with an average price tag 20 percent less than usual. Lew Frankfort, the current CEO of Coach, explained to BuisnessWeek magazine that it has become necessary for retailers to adapt to the changing attitudes of consumers.

“Consumers have a view that they can do more with less and as a result they are going to be cautious, more critical, more demanding,” Frankfort explained. “It requires retailers to be more innovative, more relevant and more value-oriented. We are in a situation where retailing is no longer America’s favorite pastime.”

Whether or not the fashion industry is going through a permanent transformation, it is clear that right now affordability and availability are the top priorities for most Americans and thus, also the priority for designers.

“It’s nice to see big designers expanding and creating new collections that help encourage recession shopping,” Anna Wei, a sophomore English major, said.

“I feel that fashion is something that’s unique to a person and it doesn’t necessarily mean wearing clothes by some famous person,” Wei said. “For me I don’t think it’s who creates it as long as it’s comfortable, cute, cheap and available to me.”