We already know that clothes are cheaper than ever before.
What you might not realize is that Americans spend much less of their left over budget on clothes than they did say 10 or 50 years ago.
“According to Dr. Mark J. Perry, an economist at the University of Michigan, Americans spent a whopping $326 billion on clothing and footwear last year. But that was only 2.98% of their overall disposable income. In 1950, on the other hand, Americans spent 11% of their discretionary income on dressing up.”
It’s not like we’ve obtained less threads than before. We for sure have more. It’s just way cheaper, so we can own way, way more. Since 1992, the price of clothing has decreased by 8.5%, even when you adjust the numbers for inflation.
So the next time you complain about the price of a $40 top at your choice of store(frankly I wouldn’t and couldn’t choose because as i’ve stated before i get most of my shop on-online!. Just imagine this: It was probably $40 in 1982, too, but your income would have been way significantly less.
