Buy the damn bag; Reality of going "Look for Less"

The editorial content that is actually relatable to the average consumer.
Consider this: Will the more affordable item be WORTH IT in the long run? Always? Maybe not.

I know in a prior post I discussed hyper-consumerism and also shopping as a coping mechanism.

I will discuss another closely related topic- Getting the high end fashion item you  truly want the first time around instead of buying the affordable option which don't give you the full satisfaction of getting the item you want. (believe it or not, these two topics are not at odds)

So let's talk about it. Could it ever be worth it for the common consumer to splurge and spring for *THAT* expensive Chanel handbag? Yes. Here's why;

Sometimes the higher end option is the wise choice,
sometimes the more affordable option is the wise choice.
It all depends on value.

You could probably guess right now that I have a strong interest in fashion, and moreover affordable fashion that is accessible to the common person. At the end of the day, all we want to do is feel pretty. Am I right? Life is too short to not feel like a million bucks and only spending $20. But, there are often times where it may actually be truly worth it and splurge and buy the higher cost item. What we must now consider is VALUE. (Stick with me here, this is a seminar you want to attend)

Value Equation | University of Utah Health
(don't worry, the same equation applies here and in many sense of the word "Value")

• Value: the regard that something is held to deserve; the importance, worth, or usefulness of something.
• Quality: the standard of something as measured against other things of a similar kind; the degree of excellence of something.
• Service: the action of helping or doing work for someone.
• Cost: an amount that has to be paid or spent to buy or obtain something.

Value is equal to the sum of quality and service, divided by cost. This is the generic equation for value, let's inspect it and think about it in the case.

Value is the idea if a purchase is "worth it". The factors we have to consider is the physical quality of the goods purchased, the service we experience before/during/after purchase, and also the cost of the goods.

Let's run through a case scenario for HIGH value and LOW value;

Case#1: HIGH Value - Purchase of High End brand handbag (think of your favorite FANCY(!) brand)

• Quality: the item is constructed of the highest grade pebbled leather treated so that it does not easily scratch, nor is it blemished by regular usage and wear. Hardware is plated in 24 karat gold and polished to a high-shine luster. Item does not show much signs of heavy wear, even after 5 years of constant usage. Item will last at least 60 years with good care.
• Service: the in-store retail experience is lovely, your sales associate is kind and patient while you review the material and hardware options before making your final decision. You are even offered small food and a glass of champagne while you are going through the fashion boutique. No peer pressure from the sales associate to make a purchase.
• Cost: $2,500.00

Case#2:LOW Value - Purchase of Contemporary domestic brand handbag

• Quality: the item is constructed of embossed synthetic leather that easily markes when accidentally brushed up against a rough surface. Golden hardware shows sign of the color fading, and the grommets where the handless routinely pass through have worn down to their copper base-metal layer. Item shows signs signs of heavy usage after 3 years of constant usage. Item will last 6 years with good care.
• Service: the in-store retail experience is standard, you get the standard hello when you walk into the door and they let you know to chat them up if you have any questions about their products while you are in the store. You see other people that were offered  complementary bottles of water, but you have not been approached. The sales associates are only helping people that are looking to explicitly buy. (You wanted to come in and have a first-hand experience with the quality of the product, and are overall disappointed by the service)
• Cost: $1,000.00

The above scenario is a very realistic scenario of the in-store sales experience that a consumer may experience when they are looking to buy expensive handbags. This type of scenario can also be applied to other scenarios- let's say you are looking to buy furniture for your new home, or a set of cookware for your kitchen.

Analysis: 

• Case#1 demonstrates a high value purchase because the item is of the absolute highest quality and a very positive in-store, though the item is very expensive ($2500 is a lot of money!), you know it will last at least 60 years with good care. You conclude that this purchase is a high value, and it is totally worth it. You're going to be proudly wearing this handbag for many decades to come. A bag for $2500 but lasts 60 years? Wow. Great cost per wear ratio!
• Case#2 demonstrates a low value purchase because the item is mid to low quality, and you did not have a very positive in-store experience. The item is expensive ($1000 is still a lot money), and online reviews have showed that the item practically falls apart after 6 years of wear. Was $1000 for 6 years a good value? You conclude that this purchase is a low value, and would not have purchased the item if you could go back in time and know what you know now. (......Buyer's remorse- anyone?.....anyone?.....😭😭😭😭 )

So what do you think? Have you ever felt this way about a purchase and wish you had purchase the higher end piece to begin with? We have all been there. Next time, sit back and think extra hard which is truly the better option in the long run.

Remember that this does not totally write off lower cost options in the fashion world, sometimes they last just as long and sometimes are even designed slightly better than their higher end counterparts!

Consider the value of the purchase before you swipe your card or hand over that cash from your wallet.