In an ideal world a fashion budget wouldn’t, but this isn’t fairyland and savvy shopping can often bring about the most pleasurable purchases.
Firstly to become a smart shopper you might need to acknowledge some facts from shopper research across various studies:
- Women tend to spend more on shopping for clothes than men
- Women tend to make the bulk of consumer purchases
- The amounts women spend on shopping for themselves tend to taper off after about 45 years of age – but we would argue this happens after having kids!
- Women tend to overspend more by shopping for themselves, more so than men
- And many women believe that overspending on themselves to look good helps to make them more productive all round.
Indeed a 2013 Roy Morgan study found that the most lavish spenders are women who agree with the statement, ‘I wear clothes that will get me noticed’ with $1,288 being spent per year on items.
This is followed by women who agree that ‘it’s important to look fashionable’ and who spent $1,179 over the year on average.
Women who said they ‘buy a product because of the label’ spent on average $1,071 per year, while those who try to look stylish spent $1,031; and those who ‘look for quality over price’ spent around $907.
Our tips are, stick to a budget, stick to what works and know your style.
If you buy outside of your style it actually might end up costing you more money in dissatisfaction!