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	<title>Jeremy Smith &#187; Life</title>
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	<link>http://www.jeremybsmith.com</link>
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		<title>No winner in the race to the bottom.</title>
		<link>http://www.jeremybsmith.com/2009/08/no-winner-in-the-race-to-the-bottom/</link>
		<comments>http://www.jeremybsmith.com/2009/08/no-winner-in-the-race-to-the-bottom/#comments</comments>
		<pubDate>Thu, 27 Aug 2009 22:39:26 +0000</pubDate>
		<dc:creator>Jeremy</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Consumerism]]></category>
		<category><![CDATA[Life]]></category>

		<guid isPermaLink="false">http://www.jeremybsmith.com/?p=60</guid>
		<description><![CDATA[The question that&#8217;s been bothering me the most lately is why so many people want to buy so much cheap crap.  It makes no sense to me, and the prices people want to pay are astronomically low.
Consumer price sensitivity is perfectly reasonable, but when that price sensitivity manifests as demanding specialty items such as [...]]]></description>
			<content:encoded><![CDATA[<p>The question that&#8217;s been bothering me the most lately is why so many people want to buy so much cheap crap.  It makes no sense to me, and the prices people want to pay are astronomically low.</p>
<p>Consumer price sensitivity is perfectly reasonable, but when that price sensitivity manifests as demanding specialty items such as bicycle jerseys for under twenty dollars, there&#8217;s something wrong with the larger consumer goods ecosystem.  The demand for low cost seems to be driven by the desire to have as much cheap crap lying around as possible, combined with tight economic conditions. </p>
<p>It seems that the smartest thing to do right now is focus on producing quality long-lasting goods, and deflecting consumer price criticism with messaging around longevity, the thriftiness of a well-made item, and environmental aspects of re-purchasing cheaper goods.  Consumer education now will pay off long-term, especially in for active and outdoor brands.</p>
<p>Reasonable, one would expect customers to start to tire of poor quality and start to migrate towards the higher quality products.  </p>
<p>The opposite approach, getting tangled up in the price wars led by Ikea, WalMart, and H&#038;M will simply dilute brands, dissolve loyalties, and leave consumers with no upward path to quality/longevity.</p>
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		<title>Investment wardrobe building</title>
		<link>http://www.jeremybsmith.com/2009/03/investment-wardrobe-building/</link>
		<comments>http://www.jeremybsmith.com/2009/03/investment-wardrobe-building/#comments</comments>
		<pubDate>Tue, 03 Mar 2009 19:24:53 +0000</pubDate>
		<dc:creator>Jeremy</dc:creator>
				<category><![CDATA[Consumerism]]></category>
		<category><![CDATA[Curation]]></category>
		<category><![CDATA[Life]]></category>
		<category><![CDATA[fashion]]></category>
		<category><![CDATA[sustainable]]></category>

		<guid isPermaLink="false">http://www.jeremybsmith.com/?p=40</guid>
		<description><![CDATA[Style Savage has a good breakdown on creating a wardrobe to last, and the concepts behind building such a thing.
[A] man&#8217;s wardrobe was like a house &#8211; he bought pieces of clothing and he maintained them so they would last, shirts were mended and ultimately their character was enhanced. 
There&#8217;s very little ambiguity about the [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://stylesalvage.blogspot.com/2009/03/luxury-in-downturn.html">Style Savage</a> has a good breakdown on creating a wardrobe to last, and the concepts behind building such a thing.</p>
<blockquote><p>[A] man&#8217;s wardrobe was like a house &#8211; he bought pieces of clothing and he maintained them so they would last, shirts were mended and ultimately their character was enhanced. </p></blockquote>
<p>There&#8217;s very little ambiguity about the value of living and dressing this way.  Less consumption, shorter supply chains, more local jobs. </p>
<p>Check out Bobby Orr&#8217;s <a href="http://www.atimetoget.com/2009/03/bobby-orrs-bag.html">old hockey bag</a>.  It was repaired again and again from getting punctured by his skates.  These days, the bag wouldn&#8217;t be considered worth the time to stitch up, and likely, the material wouldn&#8217;t take it.</p>
<p>Therein lies the defense of higher pricepoints for &#8220;investment&#8221; pieces.  If one could buy a new duffel for $15, why would they spend half an hour fixing it?  Make the price of the piece truly reflect the labor and other costs, and the equation changes drastically.  Same for everything from shirts to shoes.</p>
<p>There&#8217;s a higher up front cost, but a much smaller lifetime cost to everyone, not just yourself. Less time spent acquiring replacement goods, more time to enjoy what you have.</p>
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