When Overspending Backfires
When Overspending on Luxury Backfires Many financially-able consumers commit to overspending on designer purchases. Because luxury goods by nature are both pricey and in high-demand, such possessions communicate status and prestige. Then there’s our biology: evolution reinforces comparing and competing. In the age of social media we post fancy photos of ourselves doing fancy things as a way to prove we, too, are as worthy as our peers. But while consumers assume investing in designer items will result in...
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When Overspending on Luxury Backfires Many financially-able consumers commit to overspending on designer purchases. Because luxury goods by nature are both pricey and in high-demand, such possessions communicate status and prestige. Then there’s our biology: evolution reinforces comparing and competing. In the age of social media we post fancy photos of ourselves doing fancy things as a way to prove we, too, are as worthy as our peers. But while consumers assume investing in designer items will result in...
The post When Overspending Backfires appeared first on Sustainable Minimalists.
Our Sponsors:
* Thank you to LifeStraw! https://lifestraw.com/
Support this podcast at — https://redcircle.com/sustainable-minimalists/exclusive-content
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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