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Who are luxury brands after?

December 27, 2013

Peacock

Companies selling luxury goods suppose to target wealthy people that could easily afford them. But are the rich really buying higher priced goods, or the less fortunate ones, driven by jealousy and desire, are the main targets?

Latest survey conducted among American wealthiest 10% show, majority of well off do not believe in luxury brands. They feel advertisements for luxurious things are appealing to someone else. Moreover, a quarter of affluent respondents believe such brands are overrated and aimed at status seekers, rather than quality conscious consumers.

Such results may be surprising, but since 80% of millionaires were not born with the silver spoon in their mouth, they do make sense. Majority of the rich grew up in households that were not familiar with glitzy products. Being self made apparently does not go well with luxury, or as my grandpa used to say: If you want to learn frugality, go to the rich.

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From → Zeitgeist

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