The Shift in Consumer Behavior: From Fast Fashion to Quality and Durability
A New Way of Thinking
For Jake Welch, getting dressed is a math problem. He calculates the cost-per-wear of his wardrobe by highlighting 200 items in a spreadsheet, listing the price he paid for each item and how many times he’s worn it. This way, he can determine whether his purchases were worth it or not.
A Growing Trend
Lots of people thought Welch was weird when he started doing this 12 years ago, opting to ditch the cheapest items on the sales rack in favor of maximizing the value of his purchases over the span of their lifecycles. But with inflation still a nagging problem, more shoppers are coming around to his way of thinking.
Retailers Take Note
Retailers are taking notice of this mindset and shifting their marketing strategy in some cases. Gap’s Old Navy is offering shoppers a full refund for uniforms purchased during the upcoming back-to-school season if the clothes don’t hold up for a year. Retailers like Kohl’s and online shirt retailer Untuckit have recently revamped their marketing campaigns – particularly for the fall – to focus on durability and versatility. American Eagle is touting the "longevity of your most-loved jeans" made of recycled cotton and polyester in email campaigns to customers.
The Cost-Per-Wear Calculation
That means a $200 classic sweater may end up being a better deal if you plan to wear it every week compared to a hot pink dress picked up for $40 that might be worn only once a month. "Cost-per-wear is another way that they think about how to combat some of the inflation," says Christie Raymond, Kohl’s chief marketing officer. "Is this item going to last? Is it going to really be versatile? For back to school, for example, can my child wear it in a number of different ways?"
The Growing Backlash to Fast Fashion
However, not everyone can afford to prioritize quality and versatility over price. Neil Saunders, managing director of GlobalData Retail, notes that shoppers with tighter budgets will look at price and may not care whether something will last just as long as it looks good for now.
The Future of Fashion
There’s a growing backlash to the cheap stuff. Rohan Deuskar, founder and CEO of Stylitics, a retail technology firm, says he started seeing the trend this past holiday shopping season. He noted the average order was going up, particularly for holiday dresses, while shoppers were buying fewer items. And shoppers were also spending more time engaging with the virtual models that showed different ways to wear the item. "Shoppers are being more considerate about every purchase and being willing to spend only if they get value – and that no longer just means cheap," Deuskar said.
Conclusion
The way we think about fashion is changing. With inflation still a concern, more shoppers are prioritizing quality and durability over cheap prices. Retailers are adapting by focusing on marketing campaigns that highlight the longevity and versatility of their products. But it’s not all about the numbers – as Welch’s story shows, there’s a growing movement towards a more sustainable and thoughtful approach to fashion.
FAQs
Q: Can I really afford to prioritize quality over price?
A: It depends on your budget and priorities. If you can afford to invest in quality items that will last, it may be worth considering.
Q: Is the cost-per-wear calculation only for high-income earners?
A: No, it’s not limited to high-income earners. Anyone who can afford to prioritize quality and durability can use the cost-per-wear calculation to make more informed purchasing decisions.
Q: Can I still find affordable options that meet my needs?
A: Yes, you can find affordable options that meet your needs. Look for retailers that offer quality items at affordable prices, and consider shopping during sales or using coupons.
