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Have you ever noticed? Many people buy luxury branded products they own, both on social media and on the street. show your breasts exhibitions. In fact, this situation
Have you ever noticed? Many people buy luxury branded products they own, both on social media and on the street. show your breasts exhibitions. In fact, this situation has reached such a point that most people are wearing products with the logos of these luxury brands on them, like walking billboards.
Even when we don’t hang out with rich people, we often see luxury products being used everywhere we look, even in our immediate environment. Louis Vuitton, Alexander McQueen, Gucci, Dior, Prada… You now often come across these luxury brands with high price tags. Is this because people are getting richer?
Before delving deeper into the subject, read Forbes’ article. the richest people in the world Let’s take a look at the compiled list.
The answer is of course no. Maybe it could even be a decent LC Waikiki t-shirt, we don’t know. But deep down you think it’s a luxury brand, right?
So you guessed right. Simple t-shirt with Mark Zuckerberg on it Brunello Cucinelli brand and price $450 all around. However, it doesn’t look any different from the simple T-shirt we wear to bed, right?
In other words, everyone already knows that Bernard Arnault and his family, Mark Zuckerberg or Jeff Bezos in the photo are rich. Therefore, these people are decorated with the logos of luxury brands and He doesn’t feel the need to buy things that scream, “I am a brand.”
Two concepts come into play here. ‘Old money’ and ‘new money’.
What we can translate as “old money” “old money” The concept is used to represent the style of wealthy family members. People with the old money style generally reflect luxury in an understated way. good quality and classic prefers parts.
The meaning is ‘new money’ “new money” The concept is simply used to represent the style of people who found money later. In other words, it generally refers to wealth acquired recently or over a short period of time. Mostly people with the new money style flashy and conspicuous Focuses on pieces, brand emphasis and luxury appearance.
In other words, these people are actually trying to express themselves with their newly acquired wealth and to emphasize their social status We can say they work.
Let’s think about it this way. The rich appeal to the 1%, but it is impossible to sell to the entire 1%. Considering other factors, the wealthy 1% about 0.1% Such a share may be in a brand’s target group.
That’s why luxury brands aren’t targeting this small group that isn’t interested in showing off, but a group estimated to be around 350 million people. The goal is to sell to the middle class.
The main reason why real rich people don’t show the brands of the products they wear, while others do acquire social status. Of course, luxury brands are also aware of this.
Where income inequality is high People may turn to luxury consumption to belong to the higher segments of society.
Moreover with the influence of social media We see that middle class people, with the aim of being more visible, are turning to luxury branded products as a means of social acceptance and appreciation.
Luxury brands will also be aware of this so that their products affordable and expensive By keeping it, it both maintains its luxury image and makes these products more accessible to the middle class, which is not very comfortable financially.
The reason why middle-income people wear products with luxury brand logos as if they were billboards is “Look, I can dress luxuriously” to achieve some form of social acceptance by delivering the message to their social circles.
So for this segment, luxury branded products are sort of social capital!
While many sectors struggled during the pandemic, the fashion industry, for example, earned more than normal. So much so that LVMH sales increased during the pandemic period. 18% had increased. So, is the source of this increase the 1%? No, middle income class!
The main reason why people spend on luxury during this period is that people spend money on luxury due to the crisis caused by the pandemic. Wanting to live every day as if it were his last. Because they did not know what the future would bring and because of their limited social life, they did not spend their savings on luxuries.
Here you see, looking for status What does it make people do?
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Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
