Buyer’s remorse or luxury regret are terms we do not hear as often in the luxury designer shopping community. We all want to share in the best experience of owning and loving our designer items but the truth is sometimes that is not our reality. Sometimes we regret our purchases and live with remorse after making them, especially when money is a major determining factor. I have had my own experiences as well as read reviews and watched countless videos of fellow luxury fashion lovers who admit their encounters with luxury regret. Here are six common reasons people regret buying luxury fashion:
Not knowing their style identity. My personal belief is that style and fashion are two separate entities. I believe that fashion relates to trends which change with the seasons and is dictated by popular fashion houses and influencers. On the other hand, style is a means of expressing one’s individuality through varied fashion elements regardless of season and external influences. I have noted a common theme that people who express luxury regrets often admit to: they bought an item because it was trendy to have that item but they did not genuinely love the item. In other words, it was just not their style. The items may very well be classic, timeless pieces like the Chanel Jumbo Flap in Caviar Leather with Gold Toned Hardware. However, for someone whose style is not elevated by a large almost $10,000US shoulder bag, regret is sure to set in as the item sits in the dust bag in the corner of their closet. It is a great feeling to be a part of the “in crowd” and have what the “bests” have but if you don‘t enjoy these items then the point of spending so exorbitantly on them is lost.
2. Falling prey to marketing strategies and influencer culture. Today’s marketing machinery is fueled by exploitation of human psychology. Additionally, the boom of influencer marketing and greater access to the internet has further propelled the rise in popularity of luxury fashion. People are driven to make these purchases because other people who they believe are similar to them in looks, personality or desires (aka influencers) told them directly or indirectly that they need these item in their lives. I have no numbers to back this up but anecdotally this seems be the frequent cry of those who have buyer’s remorse. They were swept up in the hype, following the crowd and when the dust settled, they realized they spent a ton of money on something they did not truly desire. One hack I use to determine if I truly love an item versus being mindlessly influenced is to give it some time before I make the purchase. During that time, I look for lower priced dupes of the item. If I consistently get excited for a $15 “no name” bucket bag as I do when I see a Louis Vuitton Noe, then I know I truly want it and I am not just chasing the brand name for clout. Give this hack a try; it will help prevent luxury regret.
3. Not practical or useful in our daily lives. People shop luxury pieces for different reasons, in fact, some folks purchase items as collectors without intentions to use them. However, the majority of luxury fashion shoppers want to get their money‘s worth and value out of the product. They want to use them! As we all lead different daily lives despite having some similarities here or there, one popular item is not universally practical for the majority. A pair of Christian Louboutin So Kate 120mm pumps are not practical for everyday wear for the average woman yet this shoe was all the rage in 2011-2013. It was the trend to own a pair during this era of designer fashion. However, in subsequent years many have come out stating that it was next to impossible to even wear the shoes comfortably for more than half an hour even once in a blue moon. Many others were annoyed that the signature “red bottoms” were so easily scoffed which devalued the shoes significantly. Another example is hopping on the trend of buying micro bags that can hold no more than a lipstick yet cost close to or more than $1000 US. Many people now regret buying into such trends without considering how useful the items would be in their lives.
4. Getting sucked into the addictive lifestyle. Shopping in and of itself is well known for being addictive. Consumerism has been at an all time high in the last decade. Shopping luxury fashion, though more expensive and seemingly less achievable for most, is just as addictive. Believe me when I tell you, once you make your first luxury purchase especially if you have a good experience while doing so, you will fall in love with the lifestyle and it will keep you wanting more. As steep as the prices are, many people find it hard to control themselves when it comes to purchasing luxury. Falling into the rabbit hole of luxury fashion shopping most assuredly has led to instances of luxury regret.
5. Panic buying or buying because items are on sale. When it comes to high end designer items, the prices will only continue to rise, regardless of the economic climate. Rising prices creates more exclusivity for these brands and people do not like to be excluded. In the last few years many fashion lovers like myself have been following fashion news and listening out for potential price increases by our favorite brands. Whenever a little birdie says a price increase is about to happen, many people flock to boutiques to grab popular items before the prices go up. Quite often in the panic, they do not consider whether they actually desire the item or are just afraid of missing out. For some this leaves them with buyer‘s remorse. Another side to this is when people buy a luxury item that is on sale just because the price point is attainable and they will have an item to flaunt. If the item is again not their style or impractical for their lifestyle, they tend to regret the purchase.
6. Not financially or emotionally ready to make the purchase. This point tends to be truest for first time buyers and those who are not emotionally or financially at peace with how expensive luxury shopping actually is. These items cost hundreds and thousands of dollars yet they are not necessities for life and happiness. However, those of us who continue to indulge and enjoy the lifestyle are those who have resolved this in our minds and with our discretionary spending budgets. People may have luxury regret even when they absolutely love the items they bought. Their emotions may constantly nag them about the fact that this money spent on fashion could be put towards better use or benefit the less fortunate. Individuals in significant debt or are financially dependent on others may regret purchases because it worsens their current financial situation. From personal experience, it is always better to wait until you are ready on all fronts before starting on your luxury fashion shopping journey. Luxury fashion will very likely be around for you to enjoy once you are.
Bear these points in mind before you make your next luxury fashion purchase to help prevent buyer’s remorse.
Stay fashionably well,
TheFashionFindess
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