" Research shows that the brain finds pleasure in the pursuit of inexpensive things, and high-street chains and online retailers sites alike are cashing in.
Fast fashion perfectly feeds this neurological process... The only way to turn a profit selling clothing that cheap is to sell a lot of it. That’s exactly what fast fashion has been doing, and making huge profits in the process.
Mid-market and luxury brands play off consumers’ desire for a bargain as well, with many seeming to be perpetually holding sales. To facilitate the frequent markdowns they offer, several now inflate their initial retail prices. They’re able to protect their margins and let customers believe they’re getting a deal, enticing them to buy more.
Data from the U.S. Bureau of Labor Statistics’ Consumer Price Index, which measures the change in U.S. retail prices, shows that while retail prices of goods overall have gone up, clothing prices have generally decreased.
This means Americans are able to buy more clothing, and as incomes have increased overall, they spend less of their money on it.
These conditions make it easy for people to buy things they don’t need or even really want... "
Read the full article at The Atlantic.
Image Credits: NY Post