Suppose you want to know the Cheapest Country To Buy Chanel, then this article is what you need. It contains cheapest country to buy chanel 2021. Also, it includes where to buy cheap chanel bags.
As a symbol of class, timeless elegance and exceptional quality, Chanel has withstood the test of time as one of the most respected fashion houses. With several iconic pieces including the 2.55 bag, Boy bag and two-tone slingback heel, Chanel goods have always been status symbols. With a quickly growing middle class in Asian countries in the past few decades, Chanel and other luxury items have become a mark of the newly wealthy middle class. Thus, it makes sense that Chanel bags are very popular in Singapore, a country that has risen to a high level of prosperity in a few decades. However, because Chanel is so expensive, it has become common for shoppers to go to other countries to see if they can score the same item for cheaper. Because of this practice, we wanted to see how different prices of Chanel goods are in other countries and whether it is worth it for Singaporeans to buy Chanel when travelling abroad.
cheapest country to buy chanel 2021
Cheapest Country To Buy Chanel
Chanel is Cheapest in Malaysia & the UK
There isn’t one location where prices for Chanel are the cheapest across the board. Rather, a couple of countries have the cheapest prices for different goods. We found that the United Kingdom—the current location of Chanel’s current global headquarters—has the cheapest prices for the Chanel Boy Bag, 2.55 Classic bag, classic flap wallet and the two-tone ballerina flats. On the other hand, Malaysia is cheapest for the two-tone slingback heels. The prices for the 5 items we analysed were 7-10% less than prices in Singapore. These items were also 2-6% cheaper in Malaysia and the UK than in Chanel’s production homebase of France.
Something interesting to know if you do your shopping in the UK or EU, is that you may be eligible for a VAT refund. This means you can get most of the tax on your Chanel purchase credited back to you. Thus, if you bought your bag in the UK or in a EU country, your VAT refund can lead to hundreds of dollars in savings, which would be in addition to the already S$500-S$750 cheaper price tag. To ensure your new luxury goods are protected during your travels and as you deal with customs at the airport, we recommend protecting yourself with a travel insurance policy.
Chanel is Most Expensive in USA and Thailand
Individuals who live in the US (using NYC as a proxy) and Thailand pay the most for the items we analysed. Compared to Singapore, we found that Thai residents pay 7% more on average for Chanel bags and wallets, while New Yorkers pay 14-18% more for shoes. These price differences are even greater when comparing the prices of Chanel in Thailand and the US to France. In fact, shoppers pay 16-25% more at these locations than shoppers in France.
Where Should Singaporeans Travel to Save on Chanel Goods?
Overall, countries in East Asia and Europe have cheaper Chanel goods. While you probably won’t save any money if you fly out to one of these countries just for the sake of getting a cheaper Chanel bag, these destinations can be kept in mind if you are in the market for a Chanel item and you already planned a trip to one of these countries. Furthermore, Malaysia can be considered as another money-saving destination, as the Chanel boy bag and 2.55 classic flap cost between S$380 and S$415 less than in Singapore. Considering that you can drive to Malaysia or purchase a cheap flight, you may end up saving a bit of money.
However, you should keep in mind that you will be subject to pay the 7% GST upon return to Singapore. Thus, since the tax can add an average of S$474 to your bag purchase, your savings may be less than you anticipated. Taking this into consideration, it is advisable you consider purchasing Chanel goods from a European boutique that allows you to claim the VAT refund. This way, you will at least avoid paying the tax twice. As a quick aside, you should also consider paying for your purchase with a card that offers generous rewards so you can earn miles and points towards other purchases.
Why do Singaporeans Pay More than Other Countries?
It may seem unfair that you have to pay higher prices for the same goods just because of where you live, but this may be due to reasons that even Chanel may not be able to control, despite their attempts to do so. While it is difficult to pinpoint exactly why price discrepancies exist, our analysis suggests there are a number of factors at play that primarily stem from supply chain and import taxes. Thus, it can be at least comforting to know that Singaporeans are probably not paying inflated prices at Chanel boutiques due to their perceived wealth.
Market Demand and Purchasing Power
For one thing, we did notice that Chanel stayed true to their promise to reduce the prices in Hong Kong and Chinese boutiques and not charge higher prices due to a nation’s demand for luxury goods. For instance, while traditionally shoppers could expect to see a 20% markup on luxury goods in China, Chanel goods in China are actually priced within 1-5% of the price of the goods in France. Furthermore, while the USA is the largest market and does indeed see higher prices than most other countries we analysed, the 2nd and 3rd largest markets, China and France, have some of the lowest prices. However, this may be due to the artificial lowering and raising of prices in these countries due to the company’s price homogenisation attempts.
where to buy cheap chanel bags
Furthermore, there is no clear correlation between the purchasing power of individuals and Chanel prices. For instance, Thailand has the lowest GDP per capita, but it has the highest prices for Chanel bags. In fact, a Chanel Boy Bag costs S$1,189 more in Thailand than in South Korea, whose GDP per capita is more than twice as much as Thailand’s. Thus, while pricing may have differed due to market demand and ability to buy luxury goods pre-2015, it is most likely not the case now.
The other reason why pricing discrepancies exist could be the Chanel’s supply chain. This means that Chanel prices may fluctuate due to transportation costs and import duties, market research differences and currency fluctuations. Below, we’ll explore transportation costs by way of proximity to France and import duties in detail.
We found that while transportation may play a role in pricing, it is not the greatest reason for price differences. For instance, the USA and Canada see price stark price differences while being fairly close in location. Furthermore, Thailand and Singapore are close in proximity but Thailand’s Chanel boutiques charge 7-10% higher prices than Singapore’s.
Import Duties and Taxes for Leather Goods (Handbags & Shoes)
Besides transportation costs, import duties can play a role in determining the final price of a Chanel item. For instance, Thailand, which has the highest price premium on our list, has a 30% customs duty rate on leather goods and an additional 7% VAT rate. On the other hand, Malaysia and Singapore only have a 6% and 7% VAT rate, respectively, and no customs duty. Meanwhile, their Chanel boutiques charge 7-17% less for the same items as boutiques in Thailand. We also found that the customs duty rate has more of an impact than the VAT rate (which consumers will see as their tax on a good). For instance, despite the UK and Spain having higher VAT rates than other countries on our list, they do not have a customs duty rate and charge prices that are cheaper or identical to French Chanel boutiques. We also see this with geographically distant locations such as Malaysia and Hong Kong. Neither nation has a customs duty but have some of the cheapest prices.
However, there are a couple of exceptions. For instance, we find the opposite pattern when comparing the USA and Canada. While Chanel goods in Canada are cheaper than in the US, Canada’s total import duties are higher at 21%, compared to the United States’ 13%. Furthermore, despite Singapore not having a customs duty tax on leather goods, it still has an 8.2% average price increase compared to France. Thus, there could be other factors at play here that increase the price in these countries.
BEST SITES LIKE ALIEXPRESS FOR ONLINE SHOPPING
AliExpress is a massively popular Chinese online retail service owned by Alibaba Group. It was launched in 2010 and hasn’t stopped its journey to becoming the ‘biggest online marketplace of the world‘ ever-since. AliExpress stands toe-to-toe even with Amazon in terms of buyers worldwide. It offers wholesale goods at direct-to-consumer prices from Chinese sellers.
It also works as a great dropshipping model for a lot of e-commerce entrepreneurs. Along with a lot of good sides, AliExpress has some cons as well. The biggest problem is the shipping time of AliExpress orders, which is pretty long considering the goods come from China. Also, some orders can be very expensive after shipping charges and taxes.
So, it is a good thing to have some AliExpress alternatives whenever you don’t like its services. That’s why we are telling you about 21 best sites like AliExpress. Some of these websites offer cheaper prices and faster shipping on certain products. And, you can also use them to maintain a nice profit margin for your dropshipping business.
LightInTheBox is the perfect AliExpress alternative as it is also a Chinese e-Store. It sells hot and trending products across the globe. Their products range from phone and electronics to fashion, jewelry, shoes, bags, and many other items. You can find almost anything here at a very cheap price.
The delivery time of LightInTheBox is also similar to AliExpress as their warehouses are located only in China. But, you may get a faster shipping time due to having fewer orders to ship. You can pay for your orders with PayPal, Western Union, or your credit card.
Wish is a widely popular online marketplace where you can buy almost anything. From clothing to footwear, electronics, healthcare items, and many more things, you can get them all for an incredibly cheap price. They are also known to offer great deals and coupons to their new customers.
Their shipping time is also faster than AliExpress as their products come from sellers located in small countries. Wish also provides an advanced rating system that is very helpful for both the consumers as well as sellers. It helps promote good ones.
Overstock is a US-based online marketplace. It makes profit by selling wholesale products at a highly cheap price tag. A major portion of their stock is comprised of overstock from the major retailers or their seconds. You can find some really amusing deals here. The shipping time will also be lower as compared to the Chinese marketplaces. You can get your items within a week.
The product range of Overstock is incredible. You can find everything such as clothing, decor, kitchen appliances, and many more items. You can even find furniture and other big home items. So, you can use to fill your house with great stuff at a reduced price.
DealeXtreme, more popularly known as DX, is an amazing online marketplace. The website works in a very similar manner as ‘Wish’ and sells cheap products coming directly from sellers. It has partnered with many small businesses and sells its products to a wide base of audience.
The shipping time is a problem with DX also because their warehouses are located in China. Apart from this, you can get some really worthy deals on DX. You should always keep an eye on their clearance sales for the best prices.
Gearbest is the perfect AliExpress alternative if you are looking to shop for the latest gadgets or electronic devices. It works with over 5000 Chinese brands and top suppliers to deliver the best products. It has products from top Chinese companies such as Xiaomi, Huawei, Lenovo, and many others. But, it isn’t just an electronic store.
You can also find a massive range of other products as well. The prices available on GearBest are reduced, and you can even reduce them with the available coupons. They also have warehouses in multiple countries. So, you can get faster shipping from the local warehouse.
BangGood is another Chinese e-commerce platform that provides worldwide shipping of cheap goods. You can find almost anything on this website, from clothing to electronics, and even home items. The prices available are marked down from their original prices. You can also get amazing deals during special clearance sales.
BangGood provides a free $20 coupon to every new user. The shipping time for BangGood orders is faster than AliExpress for certain products. However, the regular shipping time is similar.
ChinaBrands is a widely popular Chinese e-Store where you can buy products at wholesale prices. You can find almost anything on this website at a highly affordable price. Their shipping prices are also low but you will get a long shipping time. It is the perfect website for buyers who want the lowest prices but can wait for their orders for at least a month.
Most of the ChinaBrands sellers run their factories from China, and their warehouses are located there only. This is the reason for the considerably long shipping time.
Bonanza is a unique American online marketplace where you can find a great range of products. They have over 20 million items from more than 50,000 sellers. It is a growing e-commerce store where even you can sell your items. It is a preferred platform by more than 20,000 entrepreneurial sellers. You can find some really amazing handcrafted items and collectibles here.
For people looking to shop regular items, this store may disappoint you a little. The prices of some items may be a little higher than some Chinese stores. But, the quality provided will be worth it.
21 ALIEXPRESS ALTERNATIVE STORES
Here are 21 AliExpress Alternatives that you can use to shop online.
- DealXtreme (DX)
- American Greenwood
AliExpress is amazing but it is always good to have options when you are shopping. So, these are the 21 best sites like AliExpress. If you ever feel like you should look somewhere else, these are some stores that you should visit. You can also use these for your dropshipping business if you are an aspiring entrepreneur. Make sure you have a solid plan before beginning.