Who doesn't love a little retail therapy? But it comes at a high cost sometimes, if you're not looking in the right places.
Fast fashion retailers like Shein and Zara have exploded in recent years, but many times you get what you pay for. If you're looking for designer brands on a budget, it’s possible you could save money by renting.
Gabrielle Buccino is a public school teacher who typically dresses more casually for work.
When her fiancé had a work event that required her to wear formal clothing, she decided to try renting an outfit through ‘Rent the Runway’.
"I don't wear formal wear quite often, so shelling out the money to be appropriately dressed for that would have just been a waste of my money," Buccino said. "It cost $122 and the return shipping was included."
Buccino said renting her dress saved her both time and money, and she would consider doing it again.
Buccino describes how much money she saved by renting in the video below:
“You don't want to be caught wearing the same thing twice, but I can't afford to pay, you know, I think my dress was like $800 if I were to buy it outright,” she said. “Whereas I could spend $100 for a great night and rationalize it as an expense for the event itself.”
Sky Pollard is the head of product at clothing rental service Nuuly. It has more than 300,000 monthly subscribers. Customers pay $98/month to rent six pieces of clothing. Customers also have the option to purchase the items at a discounted price.
"Sometimes the discounts are up to 70% off, so it's a great way to test things out, to kind of try before you buy,” Pollard said.
Pollard said renting can help reduce impulse buying and gives you access to expensive designer clothing without the hefty price tag.
"60% of the customers who joined Nuuly have never tried rental before. So, we really think we're just growing that market and educating more folks about what clothing rental is all about,” Pollard said.
You can also try using a browser extension like "Honey" which automatically finds and applies coupon codes.
When you’re shopping online, if there's a name-brand product you like, try searching for product "dupes." Many times, there's a similar generic brand product for much less, and that way you don't waste your money.
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