How Coach Bags Can Teach You About Money
Is it just me, or is everyone carrying around Coach bags? If you are a fashion fan, you probably know a thing or two about Coach. Coach is a luxury brand that produces high-quality bags, shoes, and other accessories. The company has been around since 1941 and is known for its classic styles and craftsmanship
According to Statista, Coach has generated about 2.3 billion in sales in 2021. Like any other designer brand, that is how popular Coach is!
Because of its luxury status and evident quality, Coach products are highly coveted and can be pretty expensive. This is especially true for Coach bags, which are a status symbol. The average cost of a coach bag is around $400, with some styles and sizes costing much more.
This high price tag can deter many people, but market trends show that more and more people go out of their way to purchase Coach products. And in some cases, this leads to buyer's remorse.
Below is a guide for Coach bag lovers to discover a few crucial money lessons before breaking the bank to bag a Coach bag.
What Makes Coach Bags so Great?
Style and Innovation
Part of Coach's appeal is its timeless style. The company doesn't follow trends; instead, it focuses on creating classic styles that never go out of fashion. This has helped Coach build a loyal following among people who appreciate quality and design.
Another reason for the brand's popularity is its excellent craftsmanship. Coach bags are made from high-quality materials and are built to last. This is evident in the company's warranty, which offers a free replacement or repair for manufacturing defects. If you don't want a repair or replacement, you will get a considerable discount on your next purchase.
The high quality of Coach bags comes with a high price tag, but many people are willing to pay it because they know they are getting a well-made product that will last for years.
Class and Sophistication
Coach bags are also associated with class and sophistication. The brand is endorsed by celebrities and influencers, which has helped to solidify its image as a luxury brand. With over eighty years of consistent and top-notch branding, it's no wonder Coach is one of the most recognizable luxury brands in the world.
Wide Range of Products
The final reason for Coach's appeal is its wide range of products. The company offers a variety of bag styles, colors, and designs to suit every taste. And with new collections released regularly, there's always something new to drool over.
Things Coach Bags Can Teach You About Money
Now that we've covered what makes Coach bags so popular, let's talk about the money side of things and tips that will help you avoid buyer's remorse. These are what Coach bags can teach you about money:
So, you want to buy a Coach bag? The first thing you need is a budget.
As we mentioned, Coach bags are not cheap, so you must ensure you can afford the bag you want. Once you know how much you're willing to spend, you can start looking for a bag that fits your budget.
Time is Money
When you are buying any Coach products, you must know that you are spending hundreds of dollars. How long did it take you to save up that amount of money? 20 hours? 60 hours? Or more?
When you are trading time for money, is it worth buying the product? Most people are willing to buy expensive things even if they don't make that much because they either want to look “rich” or they don't know much about money. When you look at it from this perspective, it gives you a better understanding of time and money.
Don't Buy on Impulse
Never buy Coach bags or any item on impulse. When you see a Coach bag you love, it can be tempting to buy it without thinking. If you want to build great money habits, you need to slow your roll and remember it's a big purchase, so you need to make sure you're making the right decision.
Check your disposable income and make sure you can afford the bag without putting yourself in financial difficulty. It's also important to ask yourself if you need the bag or are just buying it because it's a luxury item.
Also, it helps to shop around to find the best deal. Compare prices at different stores before settling on a purchase.
Be Wary of Sales and Discounts
While it's tempting to buy a Coach bag when it's on sale, or you can get a discount, you need to be wary of these offers. Sometimes, the bags on sale are from older collections and may not be the latest style.
It's also important to read the fine print regarding sales and discounts. Ensure you understand the terms and conditions before taking advantage of any offers. Some offers may require you to spend a certain amount of money to get the discount; in some cases, the discount may only apply to certain items.
Know What You're Buying
Make sure you know what you're buying before you hand over your hard-earned cash. Coach offers a wide range of bag styles, so you should already know which one you want.
Think about the bag you need and its purpose. Do you need a large tote for work or a small crossbody bag for running errands? Once you know what bag you need, you can start looking at different styles.
It also helps to learn about the bag you need. Read online reviews and see what other people are saying about it. This will give you a better idea of whether or not the bag is right for you.
Be Careful When Buying Online
If you're buying a Coach bag online, be careful. There are a lot of fake Coach bags on the market, so you need to be sure you're buying from a reputable source.
Check the seller's feedback and see what other people say about their experience. If there are a lot of negative reviews, it's best to avoid that seller.
You should also be careful when buying from online auction sites like eBay. While there are some great deals to be found, be careful of fake Coach bags. If the price seems too good to be true, it probably is.
How to Spot a Fake Coach Bag:
- Look for misspelled words on the tags or in the lining
- Compare stitching to pictures of authentic Coach bags online
- Check the price; if it's too good to be true, it probably is
- Make sure the inside lining is solid-color satin material and the bag has a leather creed with a unique serial number.
- Examine the materials; authentic Coach bags sport high-quality leather and fabrics.
Be Prepared to Negotiate
You can usually negotiate when buying Coach bags. If you're buying in person, see if the salesperson is willing to give you a discount.
You can also try negotiating when buying online (at some places). If you're unhappy with the price, send the seller a message and see if they're willing to negotiate.
The key is to be polite and friendly when negotiating. If you're rude or demanding, the seller is less likely to give you a lower price.
Are Coach Bags Worth It?
So, are Coach bags worth it? Yes and no.
They're not cheap, but you will get your money's worth. Coach bags are crafted with high-quality materials, trendy, and built to last. If you take care of your bag, it will likely last for years.
Coach bags are also a significant investment because they hold their value well. If you take care of your bag, you can sell it later for a reasonable price.
However, Coach bags may not be worth it if you have to go into debt or exhaust your savings to buy one. You should only buy a Coach bag if you can afford it and if it fits into your budget. If you're on a tight budget, you might be better off buying a cheaper bag. You can find many bag brands that won't cost you a fortune.
In a nutshell, it's up to you to decide whether or not Coach bags are worth it.
Are Coach Bags Made With Real Leather?
All Coach bags are made with genuine leather, but the type of leather used varies depending on the bag.
Some of the most popular Coach bag styles are made with pebbled leather. This leather is durable and easy to care for, making it an excellent choice for busy women.
Other Coach bag styles are made with smooth leather, which has a softer texture. This leather is more delicate and may require more care to keep it looking its best.
Do Coach Bags Have a Warranty?
Yes, Coach bags come with a one-year warranty. If your bag is ever damaged or defective, you can send it back to Coach, and they will repair or replace it for free.
The warranty does not cover normal wear and tear, so if your bag is starting to show signs of age, it's not covered.
To take advantage of the warranty, you must register your bag with Coach, and you can do this online or in person at a Coach store.
Once your bag is registered, you must keep your proof of purchase if you ever need to use the warranty.
Buying a Coach bag requires a lot of money and time, and it is up to you how you spend your money. As long as you know your financial situation and can afford it, then go for it since you work hard. However, if you are in debt, buying a Coach bag is not a wise choice. Hopefully, these tips above have opened your eyes to this topic!
She started her blog, The Money Dreamer, when she realized the 9-5 job was not the lifestyle she wanted anymore. After designing for a while, she wanted a more meaningful life, which was freedom, so she decided to venture out. She took action so that she can live her dream life and decided to help people to live theirs by helping them how to save, budget, and invest.