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These days, it’s not just celebrities who wear high-end clothing and accessories, but the influencers who fill your social media are probably bringing them too.
Generation Y loves to buy luxury names, says Thomai Serdari, educational director of MBA Fashion
Some other young people are environmentally conscious or socially conscious and invest in high-end labels, buy a quality item that will last for years, or spend more money on a logo with a project they are involved in. Others just need to buy a high-end bag. , look or a pair of shoes from time to time.
“They like to make themselves known and like to be photographed on Instagram by all the names,” says Serdari, “Chanel, Louis Vuitton, Prada and all those luxury brands. “
Here are some tactics to save money on the products of some of the most sought after logos. These tips can be implemented to other degrees of prestige and logo price.
BUY THE SECONDARY MARKET
The secondary market is arguably the most productive way to save money.
RealReal is a luxury consignment market, where you can get safe parts for a fraction of your retail price, according to Sasha Skoda, director of The RealReal.
“If you had to buy a Gucci shoe from the current season, its value will be quite close to retail value as they are in high demand,” Skoda says. “But if you may have to buy a Tory Burch, get dressed from last season, you may get up to 90% off the initial promotion value. “
There are also other options to buy this type of savings. But if you don’t shop at a trusted establishment, you may be vulnerable to fake products.
“The higher the brand’s notoriety, the more people seek to counterfeit the product,” Serdari says.
Don’t just stick to reputable distributors. RealReal, for example, has a team of experts who authenticate the parts it sells. On the other hand, getting what looks like a reasonable Prada bag presented through a dealer you don’t recognize on eBay can be much more complicated. riskier.
CHECK THE OUTPUT
Factory outlets, where logos sell their products directly to consumers, could also be sources of savings, but they are unlikely to offer the same pieces as the logo elsewhere.
Serdari says the products are made in particular for an outlet store. Sometimes they will be of the same quality but not of the existing collection of the brand. Despite this inconvenience, outlets are still a smart choice if you need the social popularity and logo of a label without paying that much.
DISCOVER SEVERAL PLACES
Do your due diligence by reviewing products on the user (when secure) and exploring their options. You can find a smart offer at any store or branch you didn’t have before or that wasn’t exactly what you had in mind, Serdari says.
But don’t count online sales either. Some designer brands, such as Coach and Michael Kors, have annual sales on their websites. (The most expensive luxury brands usually don’t,” Says Serdari.
You’ll save cash during those recurring promotions, but Serdari warns that sales sections are more limited and possibly involve parts that aren’t as desirable. Find a sales tab on the brand’s website.
BUDGET FOR YOUR DISPLACEMENT
Even if you find a good deal on this leather wallet or those cat-eye sunglasses, chances are you’ll still spend a good deal on cash for your purchase, depending on the original price.
Don’t consider your extravagant gluttony in your normal budget. According to the 50/30/20 budget, wishes deserve not to occupy more than 50% of their monthly budget, they need another 30% and the savings come with the remaining 20%.
A luxury item would fall into the 30% category. Make room for this with other expenses that are already in this organization like your morning latte and weekly takeout dinners.
Considering your budget, go ahead and enjoy the feeling of hunting as if you’ve paid a lot more for something you paid for.
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This column was provided to The Associated Press through the online non-public finance page NerdWallet. Courtney Jespersen is in NerdWallet. Email: courtney@nerdwallet. com. Twitter: @courtneynerd.
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