Day 21 of the Shoe Challenge – Inflation Proof Stilettos

First a disclaimer:

I hereby solemnly declare that I will not be responsible – for any mishap (either foreseeable or unforeseeable) that may arise from using or misusing the advice given in this blog post. If you require legal or financial advisability of buying shoes for investment, fashion or any other purposes there are many other people out there will accept a hefty fee for providing such services. Nothing within this blog post has been reviewed by anyone other than me. My research for this post extends to 20 minutes worth of Google-ing with the Minx squawking in my ear contemporaneously.  You have been warned.

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As sure as I am that Cadburys Creme Eggs get smaller every year, I am positive that shoe prices have actually gone down over the years as judged against inflation data and the Consumer Prices Index.

For example, I bought these black patent leather stilettoes from Schuh in 1984. I bought a red patent leather pair at the same time. The red pair are still in commission but rarely come out of the archives. (Due to an unfortunate drain cover incident one heel is wholly unreliable on stairs).  Each pair cost me £25.00 in a half yearly Schuh sale at the time.  I bought them for working in an office one summer while at University. No doubt I thought they were appropriate at the time. When I wore them today I skited around across the floorboards in our offices like a cat in need of a good claw clipping.

As at 4 December 2009, a pair of Schuh Stilettos will set you back £40.00 (sale price). This  means that in 25 years a pair of stilettoes at Schuh has only increased by a paltry $15.00. The CPI inflation rate in the UK in 1984 was 5.00%-  in 2009 the inflation rate as it relates to clothing and shoes is sitting at about 2.9%  per annum.  (If there is anyone out there that knows how to do  maths or can be bothered doing a comparative inflation rate for Australia, please let me know).

Put simply, it would appear that the statistics support my personal shopping based research that shoes from high street retailers have gone down substantially in price over the last quarter of a century.  The same does not hold true for designer shoes such as Manolo Blahnicks sadly as the Sanity Fair Blog reports.

My recommendation is, therefore, buy more footwear immediately if not sooner. But then, I have absolutely no head for figures so you might want to get a second opinion from a slightly less shoe obsessed lawyer.

10 thoughts on “Day 21 of the Shoe Challenge – Inflation Proof Stilettos

  1. I am totally impressed, and utterly surprised, that you have a pair of shoes from 1984…that you can still wear! First of all, because that was a quarter of a century ago, and secondly, because they are actually still in style. Were it me, I would have tossed these out 20 years ago in one of my cleaning, anti-hoarding frenzies. As it stands, I have no shoes older than 10 years in my house. And that includes the ones delegated to underneath the bed, the ones that are too uncomfortable to wear, but in a misguided economical frame of mind, I can’t bring myself to give away.

    • Firstly, all I chuck nothing out except receipts that I need for my tax returns. Secondly, I have a wardrobe full of 80s clothes which I am hoping to pass on to the Minx (including a white batwing dress that I bought visiting you guys). The shoes are the only thing from the Eighties that I can get away with wearing now.

  2. hmmm…wonder if this theory works with cons which have limited life really and cannot be resoled – although you will be proud – I wore my high heeled knee high boots last night 🙂 and could actually walk in them 🙂 but more shoes – hmm…wonder if i can convince DOC this is a sound investment strategy

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