Veblen Goods

Ever heard of such a word? Even if you haven’t, you’ve definitely seen it in person. That is because it is typically a high-quality good that is made well, is exclusive, and is a status symbol like designer purses or a limited release sneaker collaboration.

Veblen goods were generally sought after by affluent consumers who place a premium on the utility of the good such as jewelry, yachts, luxury cars. Yet, in more resent years as social media evolves the way our culture communicates consumerism, portraying wealth and status has become surrealist in practice. That’s because more and more wealthy people are dressing casual and comfortable, while lower and middle class Americans flaunt their a little money they have.

When did luxury brands start selling to aspirational shoppers over the social elite? the projection of wealth and status or

A curated identity self-consciously constructed to show ones “best side.”

A small portion of people build followings by selling us a vision of a lavish lifestyle, a fantasy that we can live vicariously in daydream and comparing.

The other side of this consumerism are those who can’t afford it, but want to portray being wealthy. It pulls at peoples desire to attain status.