In just two days, Barack Obama will be sworn in as the 44th president of the United States of America, and there's one thing that fashionistas want to know. The age of conspicuous consumption may be over, but still the question of the moment is: what will his wife, Michelle, wear to the inauguration? It's a decision of great historical importance (honest, guv). Because the final choice - whether good, bad or ugly - is likely to end up in the Smithsonian Insititution's permanent collection of inauguration dresses, worn by most of the first ladies of the past 100 years. There it will be be stared at, analysed and psychologically dissected for posterity. Will it be an opulent Oscar de la Renta gown, beaded and grand? Or will she uphold her woman-of-the-people image and wear a recession-friendly look from the high street, like the $34.99 (Dh130) H&M dress she wore while campaigning in Detroit? The fashion-trade magazine Women's Wear Daily has even commissioned an impressive list of 40 designers, including Carolina Herrera, Karl Lagerfeld and Christian Lacroix to come up with ideas for the dress. No pressure then? Well, no pressure that's likely to daunt the indomitable Michelle, anyway: as far as fashion commentators are concerned, she can't put an athletic, Lanvin-clad foot wrong. In fact, retailers and designers in the US are turning, with increasing desperation, to Michelle Obama for salvation from their fiscal trials during the economic downturn. They believe (read that as "hope") that the media's obsessive scrutiny of the future first lady's fashion sense will pique interest and spending among the cautious shoppers of the US, curbing the retail crisis that has seen the loss of thousands of jobs and the closure of many stores across America. The US designer Anna Sui told The New York Times: "She can give a big boost to the American fashion industry - and we need all the help we can get." For the past year, magazines and websites have been packed with gushing editorials comparing Michelle's look to that of the style icon Jacqueline Kennedy, a rhetoric that chimes beautifully with the new-Camelot mood of the Democratic campaign and her husband's entry into the White House. But it is not the retro design details, the shift dresses or the statement necklaces that are remarkable: Cindy McCain, Sarah Palin and even Laura Bush have been rocking those demure necklines, three-quarter sleeves and Fifties-style silhouettes too, as have the female politicians and politicians' wives of Europe (think Carla Bruni). That's simply because all these things are in fashion at the moment. It just so happens that, with the industry already squarely behind the Democrats, organising fund-raising parties, designing Obama accessories and photographing Obama spreads in Vogue, it was Michelle who has been seen to epitomise the look. Actually, it is her independent, personal sense of style that has really been making waves and will remain important certainly for the first part of her husband's tenure. Unlike Palin (who was transformed from Alaskan hockey mum to chic-and-sharp businesswoman in a matter of days as the media turned its merciless eye upon her), Michelle's style has not noticeably changed since she first became a photographers' target in 2005; it has simply evolved to become a little more sophisticated and take account of current styles. And unlike Cindy McCain, whose Oscar de la Renta outfit and the jewellery worn at the Republican Convention was estimated by Vanity Fair to have cost up to $313,000 (Dh1,150,000), Obama is the archetypal high-low consumer, mixing preppy high-street classics with more adventurous pieces from hip designers such as Thakoon and, of course, her favourites Maria Pinto and Maria Cornejo. Even more pertinent, in a departure from the behaviour of most celebrities of her age and public profile, she apparently does not employ the services of a professional stylist for her public appearances - for this she has been widely lauded - which means that there is at least one side of the industry that will find no solace in the arms of Obama. Her husband's campaign office has been at pains to point out that Michelle makes her own fashion choices and that her clothes are not funded by the campaign. It's a canny move when it comes to helping her husband ditch those accusations of elitism and appeal to ordinary, conscientious and cash-strapped voters. Palin's personal stylist was reported to have been paid $54,900 (Dh200,000), and her make-up and hair stylists around $110,000 (Dh405,000), by the Republican National Committee during the campaign - all that on top of the $150,000 (Dh 550,000) spent at Saks Fifth Avenue and Neiman Marcus. The clothes have since been donated to charity, but the revelations dealt a considerable blow to her party's campaign. The fashion industry's faith in the power of Michelle is not entirely misplaced. While Jackie Kennedy's iconic look was carefully managed by her stylist, the designer Oleg Cassini, the comparisons being drawn between the two are fair, given just how influential both women have been. Kennedy inspired a million pillbox hats and boxy jackets, a whole mood, a silhouette. In true Obama fashion, the effects of Michelle's style are more practical and measurable. Take, for example, the yellow ensemble she wore on The Tonight Show With Jay Leno. A fresh, easy look, it was classically Obama, as was the bold colour, but the big revelation was her admission on the show that she frequently shopped online, from affordable retailers such as J.Crew, where the entire outfit was bought. "You can get some good stuff online," she told Leno. Hits on the J.Crew website increased by 464 per cent as a result, as the public searched for the skirt, blouse and cardigan. Still, the most famous example of the Obama effect is, of course, the new household-name status of the Chicago-based Pinto. This designer's boutique was already frequented by Oprah Winfrey, but it was the news of Pinto's long-term association with Obama that truly thrust her into the limelight, and the famous purple silk shift dress that she wore for a rally last summer, teamed with an Azzedine Alaia belt, was the tipping point. Her sales are said to have increased by 45 per cent in the last year. Pinto's dresses don't come cheap - the purple one cost around $600 (Dh2,200) - and Obama has been known to sport pieces by other designers, though these are usually young, quirky up-and-comers such as Jason Wu and Thakoon rather than the big-hitters who traditionally dress Washington. She has also been spotted in Lanvin flats and wears Erickson Beamon brooches to pep up her more low-key looks. Obama is no ordinary wife and mother, that much is certain. But knowing how to mix the looks, not taking it too seriously and - most importantly - appreciating just when each style is appropriate is what has created such a devoted fashion fan base that there is even a popular blog devoted to her style, www.mrs-o.org. That she wears relaxed Gap trousers in Hawaii or a tailored jacket in Washington shows her understanding of just how much clothing can express without a word being spoken. Of course, she doesn't always get it right: the Narciso Rodriguez dress that she wore to her husband's election party at Grant Park in Chicago, an adapted version of a spring/summer minidress, might have won the approval of fashion critics, but the public response was one of horror. The violent colour combination, scarlet and black, was strangely shocking on a night of celebration - and, if bloggers' comments are anything to go by, terrified already nervous Americans who associate the colours of red and black with communism (and communism with Barack Obama). That dress may have said a lot, but it wasn't in a language that anyone understood. Nevertheless, it is this fallibility and confidence that makes Michelle all the more appealing to real women. Sure she makes the odd mistake - who doesn't? - but she's willing to try something new without resorting to the safe pair of hands of someone such as Rachel Zoe. (For the record, the much-vilified Zoe has stopped with the bug-eyed shades and maxidresses and is now dressing the likes of Anne Hathaway for awards ceremonies - and doing it rather well.) And, yes, she has a couple of advantages over us mere mortals - she's 185cm tall, athletic and has designers willing to reconfigure their designs for her - but she is also no ice-queen McCain in a starched white shirt with the collar turned up. Obama, it seems, is just like the rest of us. When those credit cards no longer flex, that counts for a lot. gchamp@thenational.ae