Buy cheap, buy twice

A long time ago I heard a woman who could be ranked among lower-middle class (in Poland there are no standards of social stratification, hence such assignment was purely judgemental) claiming she “could not afford to buy cheap stuff”. At that time I thought she was showing off she could afford some decent items to make up for her inability to buy more expensive durable goods, such as more comfortable dwelling. With hindsight, I recognise the wisdom in such attitude.

The musings should begin with a question whether there is a positive correlation between price and quality. I would argue it exists, yet not really strong. If you buy expensive items, you might be let down by their poor quality, yet if you buy cheap items, it is far more likely the cost of acquiring them reflects their shoddiness. There are bargains you might chase, but laws of economics remain unwavering – products or services of high quality might be attractively priced only for a short time, then the market will drift towards equilibrium.

With age (and rising earnings) I lean towards buying more expensive durable goods and my higher disposable income is not a core reason. I like using stuff for several years, I realise such consumer habits are good for the planet, I detest producing rubbish and I generally dislike shopping, so if I buy something that serves me for many years, it saves me hassle which replacing a defective or worn-out item involves. Besides, the comfort of using quality stuff is usually higher. Such approach requires a larger initial expenditure. As I point out, I pay more up-front, but over years I do not spend more money by replacing one shoddy item with another. Quite sadly, the initial outlay is the biggest barrier for the poorer who for financial reasons are stuck in a vicious circle of buying cheap stuff: furniture which fall apart after a few years, clothes which look like rags after a few washes, etc.

One would say it is contrary to manufacturers’ interest to put out durable objects, as capitalism is driven by ongoing, never-ending demand. Bosch brand, being a symbol of quality gives lie to this. My dishwasher has never let me down over 7 years. By dint of high quality, I have come by a driller, a universal brush, a wire detector and a washing machine, all manufactured by Bosch, which since decades has been a renowned producer of reliable and durable machinery. It earns on clients recurring to buy a different product, not to replace an item they bought a few years ago.

In purely economic terms, the strategy of buying expensive items does not always make sense, especially when quality does not go together with practical properties of an item or if you are going to use an item once in a blue moon. In the latter situation, sharing economy should be the answer, nevertheless despite some progress, Poland still lacks a well-organised platform for renting / borrowing stuff (such as tools used once a year or less often).