What is your opinion on buying #Luxury brands? I live in a society where spending huge amounts of money on luxury brands is very common. You may get a better quality item for a fraction of the cost but still people want to buy from a luxury brand because they want to show they are rich. And this is becoming an epidemic as others are peer pressured in doing the same.
Nobody is buying #Prada or #LouisVuitton or #Gucci because because they use better quality leather but because they want to show they can afford the brand.
Some stats say that Americans with a household income of less than $50,000 make up about 27% of luxury market. That makes me think most people buying luxury goods are not rich people but people who want to look rich. But unfortunately that may be what keeps them poor forever.