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The Cheap vs. Expensive Mindset

Pulished on Oct. 16, 2018

  

  Buying cheap most always comes with a price. Nice little play on words, isn't it? Well, most cheap products out there are bad for your business even if not all of them can be categorized in this way. It's true that products are becoming less expensive, although they now come with shorter lifespan. We no longer manufacture washing machines that could last a few decades; now they last 5 years maximum. We are kind of moving in the same direction with everything else. The reason for this is that products are now built to meet their purpose than be discarded; making way for more advanced products that will serve new purposes. Let's take cell phones for example. Would you want a cell phone that costs $200 and lasts 2 years or one that lasts 5 years and costs $400? Obviously very few people will prefer the second option. We generally just want products to get the job done, and the less expensive the better.

  People who prefer buying cheap products have somewhat of a different mindset than those who prefer more expensive ones. Those who prefer buying cheap are usually aiming for a higher profit, or they are organizing and event with a lower budget. Even if cheap doesn't necessarily mean lower quality, inexpensive products tend to work better for people who are interested in only using that product one time. Unfortunately there are many degrees of cheap and a lot of people can't tell the difference between a good product that is priced low and a bad product that costs almost the same.

  Even it looks almost the same there are a wide variety of glass types, each with a different quality. Crystal is the highest quality type of glass used in glassware and people often don't know that glass varies in quality. So, when people buy the cheapest glasses from an unknown online retailer, they often don't realize that most often the glass used for their product is of a very low quality. There are some retailers out there who sell glasses at the same price as ours but their glassware may be a lower quality for a higher mark-up, and yet most customers are not aware of this.

  People who prefer buying expensive products, often have this preference either because they of past experiences or simply because it's important to them to have the best quality product, and they look at it as an investment, either in themselves or their business. So what is the best way to go? The honest answer: none. People should aim to buy good quality products and then look for the low-priced offer, not the other way around. They should not buy products just because they are expensive, nor should they buy products just because they are really cheap. In both cases, they risk supporting companies that may not have customers' best interests in mind.

  Our company is an advocate of conscious choice about what people are buying. We try to offer all the information our customers need to make sure they are making the right choice, the choice that matches their expectations in terms of quality and price.