The Lure Of The Bargain

July 6, 2009
Interview with Ellen Ruppel Shell, author of Cheap: The High Cost of Discount Culture
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Mike Carruthers:
The outlet mall: people love to shop at outlet malls, primarily because of the bargains. But wait, are you really saving money? Let's look...

Ellen Ruppel Shell:
We drive on an average twenty-five miles to get to an outlet - that's fifty miles round trip.
 

Ellen Ruppel Shell, author of the book Cheap: The High Cost of Discount Culture …

Because we spent that much time in the car we spend eighty percent more on average than if we go to our regional mall. So are we really saving money? - that's unclear.

Especially when you factor in the cost of gas and the value of your time. So what is it about the outlet mall?

The biggest emotional response for many of us is the bargains. And scoring that bargain is an end unto itself. And I know this myself - it's a very strong emotion for me because if I see a cashmere sweater for thirty-nine ninety-nine I make a beeline for it.

But Ellen says if you stop and think about that cashmere sweater…

How is it possible that this cashmere sweater is thirty-nine ninety-nine? Is it as good a cashmere sweater as I would expect it to be? How much cashmere was used in the making of this sweater? And then take a walk around the store before you grab it and what's been very helpful to me is to walk away, think about it and then if I still want it I'll purchase it.

Tomorrow have you ever wondered why mattresses are always on sale?

To hear the complete unedited interview, click here.