These Boots Were Made for Spending
Living in one of the wealthiest nations in the world ideally means full-access to core tenants of liberty – democracy and freedom. Indeed, American citizens exercise their freedom in a multitude of manners, quite notably exercising their freedom to consume.
Women, in particular, dole out about $370 per year, adding up to approximately $25,000 spent on footwear in a lifetime. Additionally, the average woman owns up to 469 pairs of shoes within a 67 year period, averaging about seven pairs per year.
According to the U.S. Department of Agriculture, $146 is an adequate budget in order to feed a family of four a healthy diet per week. Thus, the amount of money that a women, on average, spends a year on shoes is enough to feed a family of four for almost three weeks. Furthermore, the amount of money a woman invests in footwear over the course of her lifetime could have sustained a family of four for 171 weeks, or over three years.
The amount of money that Western women spend on shoes could also have been used to purchase a first-hand car or invested in higher-education. A study by Mintel indicates that men surprisingly spend more money on shoes than women do.
Collectively, Americans annually spend about $100 billion on shoes, jewelry, and watches, while $99 billion is allocated towards obtaining a higher education. Furthermore, Westerners annually allocate $100 billion toward purchasing shoes, while the United States designates $50 billion for foreign aid – half of the amount that people spend on footwear yearly.
Perhaps Western spending tactics on footwear gives a glimpse into the massive global wealth inequality that is very much extant in modern times. While 50% of the world survives on less than $2.50 a day to garner food, shelter, clothing, and medical assistance, Westerners collectively spend billions of dollars on luxuries such as footwear and accessories.
– Phoebe Pradham
Sources: World Bank, Huffington Post, Psychology Today, The Guardian, Glamour, USA Today, Sodahead, TIME
Photo: Web Stock Pro