Sorry to tell you, but you missed your lifetime opportunity to buy a Luis Vuitton backpack and Chanel bag on a budget. Surely I might be exaggerating. But the thing is that your dream shopping spree in Turkey you might be planning for the weekend might not be as dreamy anymore. The Turkish lira rebounded 5 pct after three-week thrashing yesterday, on 14th of August.
So if you were planning to go on a quick shopping spree in Istanbul after your friend told you she got her Chanel Camera Case bag for $2,877 in Istanbul, while the poor you were looking at the same bag in Paris but couldn’t afford it for $3,700, that thrive is over now. Pardon, fall of Turkish lira and your shopping thrive.
After three weeks of losing its value, the Turkish lira has grown up again. Read that Chanel bag you wanted to buy in Istanbul this weekend isn’t that cheap anymore. And your friend, the one who brags about her successful shopping spree might be the only one bragging this summer. At least with her Chanel and Luis Vuitton purchases in Turkey.
SO SHOULD WE PLAN A TICKET TO TURKEY OR NOT?
It’s all up to you. Even though looking at the latest chart, Turkish lira is again losing its value, I wouldn’t book my plane ticket to Istanbul just yet. Of course, if you are spending your holidays in Mykonos, a quick stop in Istanbul still might be a good idea.
But flying all the way across the ocean or even just across the sea to buy yourself a designer bag in Turkey …. As a finance girl, I can tell you only to keep your eyes on this chart (if you are getting your salary in EUR) or this chart (if you get your paycheck in US $) and calculate your opportunity costs. Ps. You want to see a rise in that chart.
HOW TO SHOP SMART THIS SUMMER
Turkish lira aside, there are some other ways to shop smart this summer and get the Autumn Winter 2018/19 collection that just hit the stores on budget. Yes, you read right. All you need to do is to keep your eyes on the flash sales. I already briefly mentioned this in my last shopping tips over here where I shared the list of my favourite online stores.
Nevertheless sharing the news again. There is a special sale, 50 % off the new collection, going on at Luisaviaroma.com for the last two weeks. It’s an exclusive, secret sale that lasts only one hour. I think it happened three times last week and it happened yesterday too. Hopefully, there will be one today or tomorrow as well, as I really want to get those Gucci hiking boots. Ps. In case you don’t know what hiking boots I’m writing about, check this post here.
Anyway, back to your luxury shopping spree in Turkey. As said, the global money market is volatile right now. And before you book your plane ticket just because you heard Turkish lira is losing its value again and you could shop luxury brands a lot cheaper in Turkey, better check this chart (if you get paid in US $) or this chart if you have euros in your pocket. You don’t want to leave Chanel boutique empty-handed, do you?