I have trouble with large purchases, if you consider large to be above £20.
I can quite happily fritter away £100 in £5 and £10 increments – but to spend it all at once… I usually bottle it and walk away. (That explains the healthy cheese collection in the fridge and the rather woeful state of my wardrobe.)
For instance, I’ve had my eye on a (possibly the only ones manufactured in the world at the moment) pair of 100% cotton, non-stretch, vaguely fashionable jeans which are not made by children.
But they cost more than £20 (as well they should do), so I have patched and mended my one remaining pair of jeans until they are more patch than jean and the patches have holes.
Serendipitously, I read a blog post by John Willshire from smithery.co discussing not only the Hiut jeans I’ve had my eyes on but also the idea of allowing both the producer and consumer to benefit from a more gradual transfer of money and goods.
Sometimes I ponder similar ideas at craft fairs when I’m placed across from stalls selling things that can be impulse purchased. Would browsers who are interested in my work and say ‘I’ll keep you in mind when the baby comes.’ put down a deposit and pay in installments?
Photocraft do something similar for their online photography courses aimed at small businesses and the Arts Council England run Own Art, a scheme to allow people to purchase contemporary art (by living artists) interest-free over 10 months, so it must have some traction.
What do you think? Would you be more likely to commission a piece if you could pay a deposit at a craft fair and follow it up afterwards? What’s your impulse purchase limit?