It is not wise to shop such ridiculously over priced daily necessities, yet we commoners understand that wealthy people could do whatever they want and they could create all these commodities just to satisfy their inner bourgeoisie mind with lots of gold and diamonds. It is no doubt that people are starting to ‘jeopardize’ or degrade the value of “living” with over-consumerism lifestyle, thus causing rich people having too much money to spend and the poor having nothing to spend.
Belgium-based Ghent University study has found that by just looking or touching luxurious products provides many exhilaration and fulfillment. Imagine if you try them on, you have already half-way possessed the items which adds to the feeling of instant gratification. Your brain works almost similar when you have achieved an important life goal- this is known as the sense of ‘reward’. However this is more applicable for expensive shopping. Another theory proved by research is that we tend to subconsciously believe an expensive items have better quality than the cheaper ones- which probably varies between products. We probably just feel the pleasure in spending and possessing the items. An experiment was carried out among the wine tasters. When they were told a type of wine costs $90 a bottle, they like the wine. When the same wine was told costs $10, they said it wasn’t as good as the $90 wine.
Even though it is a virtue to save rather than spend but large number of consumers go for the claimed to be quality items than the cheap ones if they can afford. It is logical why items are becoming expensive especially when everyone buys them- the price goes up after the reputation of the brand name improves. When an item is named ‘luxurious’, it is often not just the price but also the product-making (what ingredients that were used? The process is complicated etc) and also how much the item is invested (research, advertisement, modification, design, package)
Advertisement often used consumers’ egos to promote and sell their products. When purchasing something new in the market or any branded item, your self-esteem makes you feel good about it. Sometimes we looks at how children’s grades are compared with other children or whose wife has better culinary skills, everything starts from the pride and comparison. When it comes to luxury, it is significant that when people has the ‘material’, you want one too or something better than them. It is a norm that can never be reversed.
This urge of spending does the same to men or women. Sports cars are great example. Men can be very possessive on their dream branded items especially when jealousy spurs the men’s pride. Same goes with women, you wish to have them regardless how useful they are. If everyone remembers that luxury items have the label of “limited edition” where the whole world only sells that particular item with the number less than 10, 30, 50? You realize how this trick does to people- it is an extreme attraction where people just dive in to get them. Even some non-expensive items are chocolate, ‘limited edition’ always preferred than ‘original version’. Interestingly, when something is not readily available or less produced, we claimed that they have more value. Often, they are expensive as usual, unique possibly and most importantly is that no one has it! The charm of luxury materials drive everyone into the circle of spending. Luxurious, branded, exclusive items in our lives define more than just being expensive. They are intuitive buys, appealing to us and satisfy our urge of possession and ego. It is to have something rather than nothing and making every luxurious items always in demand.