Thoroughly enjoyable discourse on the whys, wheres and hows behind different socio-economic groups consumption. Why do people who are apparently poor spend so much on conspicuous items of consumption? eg. cars, jewellery, eating out, etc.
Not too much decided in the end other than to say that the reason we all think, ie. because the poor don't want to be seen as poor, isn't necessarily the only or the correct reason.
Some lessons to be learnt here as emerging economies and their nouveau riche are currently in the conspicuous consumption phase. But eventually they'll move on and into the less 'vulgar' phase of indulgent consumption that only them and their nearest and dearest appreciate. eg. A fancy new bathroom, exclusive services and experiences. How can you factor that into your investment process....?
No comments :
Post a Comment