INFO:
Economics of Shopping Abroad 101. 👩‍🏫 Five reasons why you should do your next big shopping spree in Europe (for those carrying a non-European passport). 1. Currency- the US Dollar is strong against the Euro. The two are at parity which means $1 = 1€ 2. Location of Fashion House- Many luxury brands come out of Europe and offer their items anywhere from 15-35% less within their “home countryu002Funion”. 3. Tax Refund aka VAT- Since you are not a citizen of Europe, countries within the EU do not require you to pay tax on Clothingu002FAccessories (12%) or Fine Jewelryu002FWatches (20%). The store you shop at will fill out a form for you that you can scan at the airport to receive a credit for the tax you paid via cash or card. 4. Exclusivity of Product- for some luxury brands certain styles are only offered in specific locations. If you want to purchase something that is only offered abroad, your only option is a second hand dealer who can charge exorbitant amounts due to the scarcity of product in your location. 5. Outlet Shopping- for reasons 1-4 you can already save up to 60% off (brand dependent). If you layer on the discount from outlet shopping (tag prices can be up to 70% off their retail price), you could be walking away with an item up to 90% off what you would have paid in the US. Math on the Dress above: US Price - $200 plus 8.75% tax (NY)- $217.50 France Price- 130€ France Outlet Price- 35€ France Outlet Price After VAT- 30.8€ I paid after CC Currency Conversion- $32.60 (!) Total Savings- $184.90 aka 85% Off Follow me for all the best shopping scores and tips!💃 **Forwards this post to Bestieu002FPartneru002FSpouse**