Here are a couple scenarios for you. Scenario one: Say you bought a slick pair of brown double monk straps from >>insert favorite brand here<< for $300. Good quality leather, reputable company, guaranteed style and comfort. Now, these double monks look sweet! So sweet you’re scared to wear them frequently in fear you might scuff them, you’ve got your everyday dress shoes for that. In the course of a year you wore it to your college buddy’s wedding, Easter Sunday service and grandma’s 90th surprise birthday celebration (yay nana!). Scenario two: you bought a custom made navy blue suit for $400. You wore it with your double monks on Easter Sunday, the job interview that led to your current job, your 10 year high school reunion, company Christmas party and you and your bae’s anniversary dinner and celebration because she loves how it brings out your eyes. Which item is more expensive, the suit or the shoes? Was it the suit $100 more or the term “custom made” that made it seem expensive? But damn, $300 for a pair of shoes, is it going to make me walk on water or something? If you said the suit was more expensive you were wrong, well according to this phenomenon in the fashion industry called cost per wear. Simply put, it’s how much bang are your getting for your buck. Here is the formula for CPW:
So the cost per wear for scenario one is $300/3 = $100. For scenario two, $400/5= $80. Now is this a real formula that every shopper need to consider or is this just some weird way to justify purchasing a product? Well let’s go into it further.
Is it real or nah?
Well logic says the more you use a product (shoes, car, machinery, cell phone, bicycle), the more you depreciate it’s value. Meaning if you try to resell it after using it multiple times, it won’t be at the same price you bought it. Wear and tear kicks in. With that, CPW makes sense. If I’m going to buy a piece of clothing and wear it multiple times in a month let alone a year, I’ll use CPW for justify the purchase. Justification falls under two categories. One is, you genuinely feel you’ll wear that piece of clothing a lot not once in while and the other is, you buy something because you simply want (because of a sale, you saved for it, whatever the case) not necessarily need it. Need vs want. Do you really need a $300 pair of double monks? Really? Don’t use CPW to spend frivolously. As much as I love shoes, and I have 14 pairs as of this post, I don’t buy every shoe in site even though I’ve used CPW to justify past purchases. But believe me, I wear all of my shoes. ALL OF THEM. Regularly. I’ve got a nice little rotation going where every pair gets my undivided attention and none of them cost more that $100 ( I got a plug) so not only are my shoes affordable, I wear the crap out of them!
Be financially responsible. Incorporate some discipline. I’ve gone as extreme as leaving my credit and debit card at home when I know I’m going to the mall. I don’t need a 60% off sale to help me justify buying something I don’t need. Remember, need vs what. And if your need it, do you really need it or is that a want disguised as a need? Do you need a ton of suits? Nope. One three piece suit that’s versatile in color (navy blue, charcoal grey, light grey) you can wear to different occasion with different combinations of the three piece is all you need. And if you can get it custom made (there are affordable options, peep earlier posts ), even better. I think CPW is specific to clothes but it really is Cost per Use which expands outside of clothing. Is a $200 electric shaver a good investment? Well if you shave twice a week, 8 times in a month, 96 times a year for a couple years, then yea it's a good investment because you'll use it all the time for a long period of time. But if you buy a $200 ski board ( idk if that's how much they cost but you get the point) and you only go skiing once or twice a year, is that a worthy investment? If you are bad and bougie (shout out to Mijos) and you can spend a couple hundred dollars on a t-shirt that you wear once then have a ball! But if you're like me, you got a 9-5 job, pretty much robbing Peter to pay Paul and got adult responsibilities outside of that then you CPW wisely.