I was wondering from where comes the willingness to buy products so overpriced that price do not correlate with quality any more.
My opinion is simple: as long as price correspond to quality I don’t see any problem to buy it, even if this product is very, very expensive. If you can afford to buy it, go ahead and do it, I don’t mind it.
Problem appears when price stopped representing quality of the product and became only an expression of the user’s whim or form of manifestation.
Why so many people dream about having/buying a luxury items? In my opinion price of most of luxury products is pure marketing. But first of all, it is the expression of fulfillment of the dream of overwhelming ego, the desire to show-off or draw attention to themselves. These people consider displaying such items as a status of their position.
I think e.g. luxury purse is really no different from the bag for $500-$600 CAN (For many people this price is also too expensive and they cannot afford to buy one bag per year). There is absolutely no reason either technological or any other to make a very good quality purse cost more than $600 CAN.
The person who buy purse for $3000 CAN in my opinion overpaid at least 5-6 times. That kind of purchase is merely an expression of the need to impress others, not to own good quality product.
The sheer need to show-off is a feature of personality. It is nothing to do with price in the sense that if a person was able to buy $30,000 CAN purse again, he/she would make the same decision. Not because the price of such a purse being 10 times higher means the purse is 10 x better, just to show and impress others.
This is a dynamic phenomenon, easy to observed, when people are buying things just to show off. This drive to show off consist of two factors:
1. Lack of self-esteem
2. Feeling of the lack of social acceptance
This two features form in the early childhood and stay with a person for life. Herostrates syndrome, well known for centuries, describe someone who is willing to commits even a criminal act in order to become noted.
People who lack self-esteem and social acceptance subconsciously try to acquire other people attention and esteem by purchasing expensive luxury items. A resulting envy they mistakenly interpret as esteem or admiration. Sometimes this is even more than envy; it is pure hate, which they are blind to.
Everybody wants to be loved, admired and accepted by others. However, buying expensive luxury items to show-off is very bad road to success.
It just happens that a lot of people buying such luxury items can’t really afford them. This keeps theirs financial situation getting worse. In my opinion buying next expensive items on yet another credit is a gross misunderstanding of financial situation and straight road to hell. In North America 80% of people live paycheck to paycheck…
Getting rid of such bad habit maybe be a very difficult task for lot of people; sometimes even
‘a mission impossible”. However, anybody who can accept having this problem should try to change it. Not only to improve financial situation, but also to regain the balance on the outlook of the real world priorities
These were just my thoughts while browsing for my new purse 🙂
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