I had to shop for a new backpack the other day as my old one has lasted for almost a decade and a half. I was just browsing around a department store and saw some interesting ones and as always I always debate about the prices as I want to get the best value for the dollar.
Some of them were in the $50 range which I thought was way too much for something that I would simply throw some items in on occasion. A comment was then made on how there was another store that sold backpacks for about $10 which should do the job and another person then automatically disregarded that and mentioned how the quality must be very bad.
The first thing that came to my mind was how price doesnâ€™t necessarily correlate with the quality of a product. From a business point of view, in many cases you are paying for all of the marketing and overhead costs of getting that product in-front of you.
For example, if there was only one apple tree in the area and one guy has to drive twenty miles whereas another person just has to walk one block to do the same business offering the same product then odds are the last guy can sell the same product for less as his overhead is almost nothing.
I did end up just getting the $10 one and it seems fine for my needs.