Updated: Aug 10
Everyone loves luxury items but not all can stomach the price tag that comes with it. I have to admit, I’m a sucker for a nice bag/purse or shoes and have paid the prices of luxury for my small obsession. As much as I liked to tear the mall up and throw it in the bag, that’s not my reality or my bank accounts reality. I have my own set of rules on how I handle luxury purchases and how I obtain certain items.
First things first, I normally make a luxury items wish list every year. This list consist of things I’ve had my eye on and want to add to my collection. Once I’ve identified the items, I’m then off on my hunt for find the best deal for them. There are a few department stores in my local area that I frequent for luxury items i.e. Saks Fifth Avenue, Nieman Marcus, Bloomingdales, etc. The key is to stalk these websites for prices comparison and difference in the items. In some cases there may not be but you may luck up and find something. Now that we’ve identified retailers for the items, now it’s time to save the money. Here are the steps I utilized to save money and to get discounts on luxury goods.
Step 1 - Rewards Program
If the retailer has a reward or points program…SIGN UP!!!! When you purchase you earn points and those points can be used toward purchased in the future. Almost always there’s some type of a rewards program and it’s normally free. It’s like the retailer is pay you to shop at their store. What better way to be paid to do something you were planning to do anyway. If by chance you have retailer’s credit card, you will earn even more points. You don’t have to opt for the credit card but it’s a good way to earn while you shop. If you’re a discipline and conscience consumer then a credit may be your best deal. Either way, join the rewards program it it’s with or without the credit card. It’s a sure way to earn credit towards your next luxury purchase.
Step 2 - Cash Back
There are a number of cash back programs that you can try. If your current credit card provider has one, it would be to switch to the cash back option on your card. There are also other cash back programs that are not necessarily not tied to a credit card. There are those like Rakuten. Rakuten is an online service that offers Cash Back, deals and shopping rewards on the world’s largest selection of products and services. Sounds too good to be true. I thought the same thing however, I’m living proof that it works!! I’ve been able to earn over $1,500 through the cash back rewards program. To jump start your cash back journey, all you need is an email address to sign up to create an account... …THAT’s IT!!! It’s just that simple. Not only will you earn cash back on the retailers mentioned previously, you can earn cash back from so many other retailers as well. In hindsight, earning money through the cash back program can be used toward the purchase of those items on the wish list. Sign up here. https://www.rakuten.com/r/TRALIN14?eeid=28187
Step 3 – Sales and Offers
You have to shop sales and special offers at any given opportunity. Most retailers will host an off season sales on most its designer items, which creates the chance for you to get what yoy want the fractions of the cost. You may even luck up and find that your wish list items hit the sales rack. If you’ve signed up for rewards program or email list, you will be notified first hand when there’s a sale and you can snag your item right away. Also, don’t miss out on retail offers. Some retailers will offer a gift card in exchange for a certain value spent. You not only walk away with your ticket item but you have a gift card you could use toward a future purchase.
Step 4 - Personnel Shopper
Most high end retailers will have sales associates and personal shoppers that assist the regular consumers. Get to know your- designated sales associate!!! In most cases, they will contact you directly notifying you of any deals and will keep you abreast of any sales that may be coming up. They not only have the plug
on all the inventory, they can even assist you with getting something exclusive at a discounted rate. So become friends with your favorite sales person. They not only help you during your store visits but they give you all the tea on deals and upcoming sales!!
HAPPY LUXURY SHOPPING!!!!
What will be your next luxury purchase? Be sure to take the steps to save money!! Good Luck