Luxury brands spend millions on marketing to create an allure, making products irresistible and establishing a sense of status and social proof among modern consumers.
Many middle-income earners crave luxury items, often overspending to achieve a sense of acceptance and elevation in social standing, despite their financial limitations.
Billionaires like Elon Musk and Jeff Bezos choose not to flaunt luxury brands, as their accomplishments and status are established through their success rather than material possessions.
The craving for luxury items can lead to financial strain for individuals living paycheck to paycheck, seeking validation and acceptance through these commodities.
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