Clothing Depreciates 90%+ After One Wear
Rent clothes to get style on a budget. You’ve probably heard that a new car can depreciate 20% after you drive it off the lot (more realistically within 12-months) but did you know new clothing purchases depreciate even faster? While consignment is an option to recoup some residual value for your used clothing, be careful about the math. Expect to get less than 90% of the value for most designer contemporary apparel. With the rapid growth in online consignment, it’s very easy to calculate the value of your clothing.
We looked up some designer contemporary items on The RealReal and found on average these items sell for $50 (less when you include the 20% discount offered to buyers) if it was worn (no tags). Most designer contemporary items retail for $300 or more. Since consignment stores keep 50% of the selling price, you should expect to recoup $25 for that $300 item. Clothing isn’t an investment and sadly your closet isn’t worth much unless it’s full of Chanel and Hermes bags.
Fast Fashion Isn’t the Answer
The growth of “fast fashion” was directly due to our desire to get style on a budget. Unfortunately these items can ultimately put a dent in our budget too. Average retail prices on Zara are $50-100. Let’s be honest, all too frequently these items turn into disposable clothing. These items were’t constructed to last. Americans throw away 14 million tons of clothing per year, or an astounding 80 pounds per person.
Get Designer Style on a Budget
When you rent clothes from Armoire, you get access to designer contemporary apparel without the upfront investment or impact on the environment. For the same $300 you could either purchase one new designer contemporary item or you could rent two months of Armoire and get up to 32 items to wear. This is nearly $10,000 worth of clothing, much more than most of us would spend on apparel during a two month period or even a six month period. Since Armoire is growing rapidly, many items are new with tags and all items are freshly dry cleaned and ready to wear.
If you took that same $300 and went to a consignment store you could probably purchase six items. Unfortunately you will probably need to dry clean most of these items. Given the average cost of dry cleaning is $5-$15, you would need to spend another $30-90 before you could wear the items. Very few items have been dry cleaned before being sent to a consignment store.
Renting with Armoire is the best way to access a constant selection of designer contemporary fashion on a budget. For less than cost of a single item, you can have an entire month of styles to wear.