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LVMH

Acquired

The Psychology of Buying Luxury Items: Choosing Price Over Practicality

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  • The choice of buying luxury items says something about a person's taste and financial status
  • Luxury items may not necessarily be more practical or useful than more affordable options
  • The price of luxury items can be significantly higher despite offering similar or lower utility
  • Handbags also follow the same trend of luxury pricing despite offering similar basic functions

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