THE simple way to make a fortune, according to the findings of reports, is to be at the sharp end of things when a woman reaches into her pocket to buy ANOTHER handbag.
In a recent BBC financial article it was revealed that there are just not enough luxury handbags in the world to satisfy demand!
In fact, fashion retailers Louis Vuitton are at present closing their Paris stores an hour early in order to ration their handbags in time for Christmas.
They are selling like hot cakes!
So who exactly is buying these ridiculously priced pieces of arm-candy?
Most men given my experience are not prone to forking out thousands of Euros for a designer handbag. So the simple answer must be women. But it’s not just rich women, but many who barely make it to the end of the month money-wise.
Such people, according to Alexandra Shulman, editor in chief of British Vogue magazine, are aspiration shoppers who come in the form of everyday women.
Such purchases should not be on the cards (pun intended!) but the buys provide a feel-good factor, even though a lot of the time financially such buys just do not add up (second pun intended!)
This may not come as a big surprise since evolutionarily-speaking women are known as the gatherers – so we consume – but with statistics showing that 85 per cent of all brand purchases are made by females, maybe we are consuming too much and way out of our spending bracket.
So what’s a girl to do?
Well, if the latest handbag on the arm of a celebrity in a gossip magazine can be enticing, it’s probably high time to realise that while Paris Hilton may have a bank account to dream of, the majority of people on terra firma do not!
Nothing is wrong with personal spoiling now and then, but it is wise to analyse individual spending and to ask a couple of questions.
– Are you buying because it is needed or because it is the latest fashion craze?
– Are there other products that do the same thing but are in your price range?
Remember that despite conditioning otherwise, the reality is a bag really is just a bag and one that costs €30 will carry mobile phones, keys and wallets, just as well as one that costs the earth.
Don’t become a walking advertisement for someone already a millionaire. Be smart and start your own path to becoming a richer person.