Their headlines all scream one thing: yes, the fashion industry is suffering. The industry knows this, and now everyone else knows it. But regardless, designers have new collections to put out and, just like nearly everybody else, they have a business to run.

While facing this reality, designers have come up with some creative and cost-efficient ways to make their collections known this year. Retailers, take their cues into consideration:

• Viktor & Rolf turned down a spot for Paris Fashion Week in September 2008, and instead used an online presentation to showcase their spring 2009 collection. The decision surprised many, though the math that the design duo made it all too clear. What they figured was, while a runway show can cost up to $1 million, an online presentation would cost them practically nothing.
  Consider: taking inspiration from Viktor & Rolf – and the designers that followed suit, like Alice Temperley – with an online presentation that still offers an up-close look of your products. Even consider listing more details, such as dimensions, materials, or anything else that makes them unique.
• Not all designers are foregoing the runway, though they still sought ways to cut costs. How Mara Hoffman, Nicholas K, and Sergio Davila did it: by sharing a runway stage, thus splitting rental costs that range from $28,000 to $58,000 an hour at Bryant Park.
  Consider: collaborating with other businesses that complement yours. Invite one or two businesses to co-host a promotional event, or figure out other ways in which you can promote each other’s. Make sure that this event gathers customers together with a focus on the products, not just food and drinks.
• Other designers who turned down their invitations are instead hosting their own events, while only inviting a select few. Marc Jacobs and Donna Karan both cut their guest lists of thousands by more than half, and Jacobs celebrities almost entirely. Vera Wang and Betsey Johnson opted for using their own boutiques to showcase their latest.
  Consider: remembering who your best customers are, then rewarding them with exclusive promotions and sneak previews of products. Invite not only those who buy the most products, but also those who refer the most customers to your business.

During these times, only those are realistic but creative at the same time will survive. Retailers, how have you been using in-store events to promote your business? What makes them effective?