Cost Per Wear
Make smarter wardrobe investments, craft a better wardrobe, and spend less by taking an analytical approach to your wardrobe purchases
Before launching The Stylish Sabbatical, I studied economics, earned an MBA, and enjoyed a long and fruitful career in marketing strategy. Consequently, it’s second nature for me to scrutinize my purchases with a sharp analytical eye. It should, then, come as no surprise that I evaluate my clothing and accessories purchases using a financial metric called cost-per-wear (CPW). My friends and family – including my dad who is a CPA, and thus, quite analytical himself – give me a bit of playful grief about it. At the risk of inviting more ribbing, I’ll elucidate and defend the concept here, as I’m emphatic that it’s a tool that can help you to make smarter wardrobe decisions and avoid over-spending.
Calculating CPW
Cost-per-wear is calculated by dividing the price of an item by the number of times it has been worn. For example, a shirt that cost $100 and has been worn five times has a CPW of $20 ($100/5). A low CPW indicates that the item either had a low cost, has been worn frequently, or both. Generally, a low CPW suggests good value for the money spent.
Using CPW to evaluate individual purchases
Returning to the example above: is a CPW of $20 desirable? The answer is: it depends. The “desirability” of a CPW is subjective and influenced by individual budget constraints and priorities.
Personally, for the day-to-day clothing and accessories that constitute the bulk of my wardrobe spend – items like jeans, flats, jackets, and handbags – I aim for a single-digit or low-double-digit CPW (i.e., $1 - $20) over the lifetime of an item. To achieve this goal, I select versatile and well-constructed pieces that can be worn repeatedly. Importantly, I also care for them properly to ensure their longevity.
I am willing to accept a higher CPW for items with a very specific purpose, like a special occasion dress that may only be worn a handful of times. However, I buy far fewer of those items.
Using CPW to make smarter wardrobe investments
Over the years, I’ve used CPW to make more thoughtful purchase decisions. Before buying a new wardrobe item, I forecast the expected CPW. I envision where I will wear the item, what I have that coordinates with it, and whether I can wear it many times. In the process, I evaluate the item’s versatility, fit within my existing wardrobe, and durability. I also think about whether I already own a similar piece that could serve the same purpose as the new one I’m eyeing. This consideration helps me to minimize the likelihood that I will purchase items that go unworn and helps me to avoid duplicative and impulse buys.
By calculating the actual CPW of the items that I own, I’ve deepened my understanding of what I wear often – and what I don’t. For example, I’ve learned that I get far more utility from separates than dresses. I get good wear from jeans, coats, and handbags, so I feel more comfortable splurging on those items on occasion.
For instance, a few years ago, I indulged in a $695 Isabel Marant crossbody bag. Having worn it 117 days so far, the current CPW is $5.94. Given my diligent care, the bag still looks new, so I will continue to wear and enjoy it. Thus, the ultimate CPW will be even lower. I’m satisfied with both the current and projected CPW, affirming that the bag was a worthy use of my money.
Using CPW to avoid over-spending
As a stylist, I empower my clients to make smarter wardrobe investments, craft better wardrobes, and ultimately spend less, all through the lens of CPW.
When assisting clients in editing their wardrobes, I frequently encounter a common dilemma: overflowing closets filled with relatively inexpensive items. Many of these items languish in the depths of the closet, rarely worn. While these items may have seemed budget-friendly at the time of purchase, their lack of wear results in a high CPW, indicating inefficiency or waste. Moreover, these items add up to a collection that is unexpectedly expensive.
The money spent on these seemingly budget-friendly, unused items could be redirected toward a more functional and satisfying wardrobe. I recommend that my clients invest in a curated selection of beautifully made, multifunctional pieces. Although the initial cost of these items may be higher than what my clients are used to spending, their superior craftsmanship and design translate to extended longevity and increased wearability, yielding a lower CPW.
Having a more thoughtfully composed wardrobe increases my clients’ satisfaction with what they own and decreases their tendency to over-buy. Remarkably, this approach typically results in a reduction in overall spending on clothing and accessories. In other words, CPW can help you spend less.
Next time you're considering a new addition to your closet, remember to think in terms of CPW and invest wisely in pieces that will stand the test of time. Need help adjusting to this way of thinking? Follow me @the.stylish.sabbatical on Instagram or comment below. I’m here to work with you directly or to point you to tools that can help.