A common observation we had while xploring luxury and the world of high net worth, was the propensity for individuals to speak in generalities about the types of luxuries they spend their money on. It seemed as if they would shy away from throwing out a brand name in order to not appear to be gloating. When asked what kinds of brands they were loyal to or what brand their handbag was, the answer was always a “you know…” or “well anything that’s nice” kind of answer. On a few occasions, they almost seemed defensive and used quality as a justification of their purchases, “well what matters to me is the quality.”
Is admitting to the fact that your handbag is from Louis Vuitton or your watch is from Cartier uncouth? Could it be that these individuals don’t want to be perceived as people that just spend their money on designer labels? It seems they are willing to open up broadly about the ‘types’ of things they spend their money on i.e. clothes, travel, cars, charities. Speaking in terms of generalities is the modest approach to “name-dropping.”
Insight: Framing purchases in terms of ‘top-quality’ & ‘best experiences’ vs. the price tag or the name is the proper way to gloat.
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