Though the pandemic has had a catastrophic impact on lives across the globe, a small silver lining is that, for some people, it has created an opportunity to save some money.
Funds usually spent on nights out with friends, going to gigs or on overseas holidays have quietly been gathering in bank accounts – and with no office to go to, or weddings and trips to plan for, many of us have held off on shopping for clothes too.
New data released by Shopify supports this: overall sales of clothing plummeted over the course of the pandemic, with shoppers spending on skincare, coffee and alcohol instead. This is despite the fact that prices for clothing fell in February according to the Office for National Statistics (ONS).
Now, I may be a little biased as a fashion editor, but I reckon there’s no better place to invest the money you’ve saved than in your wardrobe. I’m only half joking; a Chanel or Gucci bag will only appreciate in value over time, as long as you protect it from too much wear and tear – and you’ll be adding a little swagger to your post-lockdown look in the process.
While a high resale value is not a given with every luxury fashion buy, there are timeless investments at every budget, no matter whether you’ve saved £100 or £1,000. It’s an opportunity to add a classic piece to your wardrobe that you might otherwise never have been able to afford.
Choose your item wisely though: a piece that’s too trendy won’t stand the test of time – you’ll only end up selling it on eBay or Vestiaire Collective in a couple of years for far less than you paid for it. And remember that clothes and accessories are for wearing, not sitting in their dust bags at the back of the wardrobe – so it’s no point buying a classic Burberry trench if the thing you really want to wear is a luxurious down puffer.
With that in mind, consider this a source of inspiration, rather than a set of rules, for the best splurge-worthy buys for any your lockdown savings you may have accrued.