Understanding The Value Of Time For Consumers

A shopper was once shopping for a bag; and after hours of searching online, he found one that he liked that was valued at $19. As affordable as it was, to have it shipped in from Europe though would cost an additional $45. 

Understandably hesitant about paying more than twice the retail value of the product just to have it imported, he searched for local stores that carried the bag. He found one that would require him to go out of his way for about an hour. 

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“Is an hour of one’s time worth $45?” This is an example of the time versus money dilemma that almost every consumer faces when they pay for products or services. 

Many economic researchers have devised means of measuring the monetary value of time. And what they agree on is that time spent on non-income-generating or even meaningless activities, such as waiting, queuing, commuting, and walking around while shopping, can be considered wasted time. 

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This is the reason airlines have offered nonstop flights for significantly higher fares. It is also the logic behind the success and popularity of online commerce, and other time-saving services. Businesses have also invested a lot of resources on increasing the efficiency of the delivery of their products and services to show that they also value the time of their customers.

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Two Financial Reasons To Hire a Personal Shopper

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There are different reasons an individual hires a personal shopper. But it is usually dependent on the client’s short- and long-term goals. Below are two financial benefits of hiring a personal shopper.

Personal shoppers save money in the long-run: The main contention to hiring a personal shopper is that it is an expense. Many financial advisors caution against this term and instead compare the nuances with the other term, cost. The initial price of hiring a personal shopper has to be balanced with how much a company or an individual save in the long run. Personal shoppers are highly skilled in negotiation and often have an established network of manufacturers and suppliers. This allows them to get the best prices for certain goods and products. Thus, the price becomes a cost rather than an expense as the former suggests that a return of investment is expected after a given period.

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Personal shoppers help build connections: Jumping from the previous point, personal shoppers introduce businesses to other contact points. These may or may not be useful in the future. Still, it makes future coordination easier. Financial analysts always highlight the importance of building connections in the beginning, without any expectation or goal. These networks should be kept in mind’s reach as they can be proven useful in the future. It must be emphasized that there should never be an underlying financial intention when starting a relationship – companies and individuals pick this up instinctively. Instead, a friendly relation should be formed without any assumption.

Personal shoppers help businesses and individuals achieve their shopping goals. Speaking with one will ease any hesitation and caution most people have.

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Using Personal Shopping as Leverage for Business Growth

What separates successful businesses from the mediocre is leverage. Financially astute entrepreneurs understand that business and economics are dependent on using what one has in the best way possible. This means turning to other industries that may initially seem incompatible. One of the latest (though still relatively untouched) collaboration opportunities involves personal shoppers. This relationship has been viewed with caution, considering the initial (and perhaps continued) perception of personal shopping being solely for fashion.

 

 

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However, one must consider the life and function of a personal shopper. It is true that personal shopping has focused on clothes and accessories, but in the process, trained personal shoppers create an invaluable skillset and network that could potentially benefit businesses.

Today’s global market has encouraged companies to expand constantly. The business of supply chain management and logistics has never been more important. But for many businesses, they may not know where to begin or how to start. This is where personal shoppers can help. Already they have the knowledge of how to interact with manufacturers and distributors. It is also likely that these groups or people have a special relationship with their personal shoppers as well. The products may be different, but the skillset is what is valued here.

Recent financial studies have concluded that personal shoppers may be used as a fantastic leverage for businesses wishing to assume a more global status. The transition from clothes to finance is done seamlessly.

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Celebrations 101: How to Plan for a child’s Birthday Party

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Planning a child’s party need not be stressful if parents know how to go about it. In fact, they may just find the whole experience enjoyable.

One of the very first things that parents should determine is their child’s current interest. Is he or she into dinosaurs? Or cars perhaps? How about the latest Disney movie? Parents can directly ask their child, or they can observe and plan a surprise birthday celebration.

The next step in party planning is setting a budget. How much budget is allocated to the party? Answering this question will help in determining other party essentials.

The following questions should be about party specifics and logistics. When is the party going to be held? Where is it going to be held? What time is the party? These questions will help parent answer another set of questions: How many people can the party venue accommodate? And how many invitees?

Next, parents will have to focus on party supplies. These include how many invitations should be printed out, how many balloons to order, how many tables and chairs should be rented (if necessary), and of course, the headcount for food.

Once all of these has been settled, the hunt for suppliers begins. Parents might want extra help with this part of the planning process since the quality and price of supplies vary from supplier to supplier. Choosing the right suppliers could save parents a fortune.

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Club Luichi’s personal consultants help members save a fortune when looking for suppliers for party merchandise. For more about the company and its host of services, visit this LinkedIn page.

Rare Assets: The Nitty-Gritty Of Vintage Shopping

If you're looking to invest in rare pieces, then you must prepare yourself to splurge. It’s highly unlikely that you'll find true vintage gems in yard sales or thrift shops. Do your research first and educate yourself on points that make an item valuable and collectable. To be on safe, enlist the help of a reputable dealer and consider these major points: 

Vintage fashion

 

The thrill of the hunt ultimately lies in how well you know vintage clothing. Aside from quality, you have to focus on the historical or cultural significance and the timelessness of the design. Always remember that the older the piece, the higher the value, so you need to learn the details that make an item genuinely classic. Limited edition pieces from deceased designers like Alexander McQueen are also considered vintage staples with high currency that's likely to increase in the years to come. 

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Rare stamps and coins

 

Experts recommend investing in “key date” U.S. coins that are perennially favored by collectors such as the Morgan Dollar, the 1913 S Buffalo Nickel, and the St. Gaudens $20 Double Eagle (1907-33). If you're into rare stamps, you need to focus on rarity, condition, liquidity, price, and authenticity to ensure more bang for the buck. Stanley Gibbons rare-stamp indices—the GB30 and GB250—contain a list of stamps highly recommended for investment.

Art and antiques

 

These pieces are illiquid assets so you must be prepared for the long holding periods. What's good about these investments is that you get to enjoy them as accents to your walls just like antiques. The value of antique pieces can grow over time as specific crafts gain popularity. 

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Rare assets aren't something that you purchase on a whim. For some, vintage shopping is a more like a lifestyle, a mindset to be precise. Those who are well-versed in sifting through the vintage bin know that each piece is an investment that holds both monetary and historical value.

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The Big Gadget Sale: Is It Safe To Buy Electronic Products Online?

Convenience and cheaper prices are some of the reasons most people are making the big online shopping switch. A lot of buyers purchase online their needs, including clothes, cosmetics, and even gadgets. But before making the big purchase, here are some tips for a successful online gadget shopping experience. 

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Compare prices

An important purchase demands quality and a bit of research. Make sure to look at various sites before settling on an item to take advantage of promotions and other sales.

Track price history

Impulse buying gets shoppers in trouble and increases the chances of missing out on discounts. Track a product’s price history and see if there’s a possibility of a price drop in the near future.

Be mindful of scammers

Online scammers are everywhere, and they are out to fool those who have the money to buy gadgets. Shop for gadgets at well-known sites, and look for reviews from previous buyers. 

Ask for insured shipping 

While online shopping is convenient, accidents and losses during shipping are common occurrences. Go for insured shipping and be informed of shipping policies. 

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Event Planning: When to Seek help and When to do it Yourself

Other people opt to do the event planning themselves because they believe doing so saves them time and money. You may be organized, driven, optimistic, and brilliant, but ask yourself—can you handle the stress of event planning?

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Do you have enough connections?

Professional event planners have secured relationships with vendors like photographers, musicians, decorators, and caterers. If you think you cannot handle dealing with a lot of vendors, have a professional do the talking for you.

Need manpower?

As the old saying goes, there is strength in numbers. Event planning requires a lot of people working together towards a goal. If you know a lot of people who can help with décor and logistics, do it yourself. Hire a party planner if you think you can’t pull off giving orders to other people.

If you enjoy the stress of planning and have the skills and resources needed for it, do it yourself. It can be a rewarding (and equally tiring) experience, and you might even consider doing it for a living. But if you’re just getting started and have limited skill with doing all the tasks required to pull off a successful event, go on and hire a professional event planner to do the job for you.

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