Three Ways Entrepreneurs Can Shop Smarter

With a global economy and the emergence of online shopping, shopping has never been easier. In fact, consumers are now open to more options, heightening the pressure to buy more than ever before.

Global manufacturing has also driven down the price of clothing, so even the price is generally not an obstacle to purchasing. Clothes prices vary now from the raw material it has been made up to the brand it represents. With many options available at prices fit for every budget, why not hastily buy something you like? Well, there are a number of reasons entrepreneurs should think twice before shopping for clothes. Here are three ways to become a smart shopper.

1. Give yourself time to think before purchasing

Most Americans will spend nearly a half a million dollars in their lifetime on impulse purchases. US closets are often filled to overflowing with clothing items that were purchased on sale that don’t actually fit right or are uncomfortable to wear. No matter how steep of a discount is offered on an expensive piece of clothing, if it sits in your closet unused or unworn, you didn’t actually get a good deal on it, you just wasted money.

The average credit card debt runs around $5,700 in America. With interest rates running at about 15%, that’s a lot of debt. This doesn’t mean you shouldn’t buy clothing, it simply means that it used to be easier to curb impulse spending and impulse shopping by simply avoiding malls and shopping areas. Now alluring advertisements follow you wherever you go – even on the Internet. Online shopping is a massive industry and many people prefer it due to its convenience, but don’t fall into the trap of clicking away your money.

2. Before you buy something new, get rid of something old

Unless you are ready to replace something you already own, you probably don’t need a new thing. Yes, sometimes you may be attending a formal event and need a specific dress or you need new attire for client meetings, but for the most part, you probably don’t need something new unless something old is wearing out. Selling some clothes online is one of the best ways to part with old clothing to free up space for new items.

In 2013 alone, more than 15.1 million tons of textile waste was produced by Americans alone. Even if you don’t throw your clothing away, but donate it instead, a great deal of it still ends up in landfills.

3. Purchase a few high-quality items over several cheaper buys

Not only will high-quality clothing last you longer, buying high-quality clothing can actually make you happier. In addition, buying high-quality clothing can actually be cheaper in the long run by selling clothes online. When you buy high-quality clothing, you are more likely to be able to sell it once you no longer need it or want it any longer and recoup part of the original purchase price.

Consider purchasing clothing made in America, as there are many people willing to buy used items that have that distinction. You will also be helping out smaller businesses that compete with giant retailers.

Buying clothing is not only a fact of life, but it’s something you should feel good about. Buying new clothing when you’re facing a mountain of debt, however, can actually make you more miserable than happy. With a business to run, you need to keep a sharp eye on your accounting books. While the initial purchase may make you happy for a moment, that happiness generally pales in comparison to buying something on a credit card when the bill comes due.

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