You Paid What For That?!: How to Avoid Paying Full Price for Clothing
Shopping for clothes can be expensive; fortunately, armed with a little know-how, you can save money and dress like a million bucks! See if you're in-the-know or out of the fashion loop.
The standard markup for retailers is known as:
What Web site sales open for a limited time to members only?
- Midnight minutes
- Flash sales
Which of the following is not a "flash" sale site?
- Gilt Groupe
Who determines the MSRP?
- The manufacturer
- The marketing department
- The merchandiser
What is the typical markup on fashion items?
- 2.2 to 2.6 times wholesale price
- 2.5 to 3.5 times wholesale price
- 3.0 to 3.8 times wholesale price
What is the definition of retail markup?
- The difference between wholesale cost and retail price as a percentage
- The price that's required to make a profit after overhead and salaries
- Two times the manufacturing cost
Some True Religion jeans retail for over $300; what do they cost to manufacture?
How do modern retailers decide when to mark down prices?
- By using specialized software
- By researching what customers will pay
- By trial and error
Where does the merchandise on flash sites come from?
- Excess supply from designers & merchants
- End-of-season goods from department stores
- Factory-seconds from the manufacturer
Most retailers offer regular discounts if you sign up for this:
- Phone calls
Who can keep you up-to-date about department store or boutique sales?
- Personal shopper
Where can you find high quality, gently used items at a fraction of their original cost?
- Consignment stores
- Dollar stores
Look for one-of-a-kind, handmade accessories at this Web site:
What Web site lets you place bids on new or used clothing, shoes and accessories?
T.J. Maxx and Marshall's often buy inventories from:
- Clothing brokers
- Up-and-coming designers
- Luxury manufacturers
A retailer relies upon markup to pay all except:
What type of merchandise can you find at outlet stores?
- Products made by a designer especially for outlets
- Unsold goods and factory seconds
- Depends on the brand
Where can you rent a designer handbag for a fraction of its retail price?
Besides haute couture, what category of clothing fetches the highest retail prices?
- Mass market
What web service lets you track prices on favorite brands?