The Gardener
Senior Member
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Status
You know, in the course of research for one of my papers on economics, I came across a study that delved into buying habits of 'average' versus 'rich' consumers.
'Rich' consumers tended to be LESS inclined to buy status items, on the whole. In detail, 'rich' consumers tended to buy higher status cars, and a few other items, but beyond that, their tastes were LESS affected by status than did those of 'average' income earners.
The most dramatic difference was in two areas, apparel, and foodstuffs. In apparel, 'average' income consumers were much more inclined to buy items such as a Louis Vuitton wallet than did 'rich' people. Additionally, 'average' people tend to buy more name-brand foodstuffs, wheras 'rich' people were more inclined to buy the store-brand, or 'plain-wrap'.
It was a fascinating read. The 'average' consumer was, in summary, much more status-conscious than was the 'rich' consumer.
You know, in the course of research for one of my papers on economics, I came across a study that delved into buying habits of 'average' versus 'rich' consumers.
'Rich' consumers tended to be LESS inclined to buy status items, on the whole. In detail, 'rich' consumers tended to buy higher status cars, and a few other items, but beyond that, their tastes were LESS affected by status than did those of 'average' income earners.
The most dramatic difference was in two areas, apparel, and foodstuffs. In apparel, 'average' income consumers were much more inclined to buy items such as a Louis Vuitton wallet than did 'rich' people. Additionally, 'average' people tend to buy more name-brand foodstuffs, wheras 'rich' people were more inclined to buy the store-brand, or 'plain-wrap'.
It was a fascinating read. The 'average' consumer was, in summary, much more status-conscious than was the 'rich' consumer.