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Luxury Consumers Defined by Species

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OUR CONSUMER SOCIETY
DailyFeed
A study by researchers at USC's Marshall School of Business and UCLA's Anderson School of Management has identified "four luxury-good consumer 'species' according to their preference for 'loud' goods with brand logos, versus 'quiet goods."

According to the New York Post's Julie Earle-Levine, they are:

1) Patricians -- wealthy consumers who pay a premium for quiet goods that only other wealthy can recognize.

2) Parvenus -- wealthy consumers who desire status and love loud luxury goods to signal to the less affluent that they are not one of them.

3) Poseurs -- consumers who can't buy luxury goods, yet buy counterfeit luxury goods to emulate those they recognize to be wealthy.

4) Proletarians -- those with no drive for status consumption.

In other words, we now have a name for the young moneyed-and-proud-of-it fellows who used to make regular appearances on the cover of the late Trader Monthly magazine, who just couldn't wait to shove their over-the-top affluence in others' faces.

I always thought it was "d----ebags", but apparently it's "parvenus".

Huh.
POSITION:  No positions in stocks mentioned.
TAGS:  CONSUMPTION, LUXURY, D-BAGS    SOURCE:   New York Post

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