Why do people Gucci?

A lot of people buy from them for status as they are highly commercialized brands and if you have items from these brands means people will think “you must have money” and some do it because they are loyal to the brand and can afford it. Some people buy it for the specific designs/patterns.

Why Chanel bag is so expensive?

Chanel handbags are highly sought-after, iconic statement pieces, and demand is always higher than supply. Thus, Chanel continues to boost the prices of their most coveted offerings, and consumers will continue to pay. Since the start of the global pandemic, Chanel has boosted bag prices four times.

Why do the world’s wealthiest buy ridiculously expensive things?

From skyscraper houses to priceless works of art, the world’s elite buy ridiculously expensive things to fuel their passions, showcase their wealth or spend the money just because they can. Whether it’s the most expensive thing they own or just the most exotic, the splurges of the world’s wealthiest are always interesting.

What do Americans spend most of their money on?

People spend much more on television, radio, and sound systems than they did in 1989. They also spend more on pets and toys. The BLS divides households into nine income groups. The lowest is households with income less than $5,000 a year.

What do rich and poor families spend their money on?

Poor, middle class and rich families spend similar shares of their budgets on clothing and shoes, and on food outside the home. But poor families spend a much larger share of their budget on basic necessities such as food at home, utilities and health care.

What are some crazy things billionaires spend their money on?

The 16 Craziest Things These Billionaires Spend Their Money On. 1 1. Steve Cohen’s 14-Foot Preserved Shark. Cost: $8 million to $12 million. 2 2. Mukesh Ambani’s Home. 3 3. Roman Abramovich’s Superyacht. 4 4. Larry Ellison’s Hawaiian Island. 5 5. Prince Alwaleed bin Talal’s Airbus A380 ‘Flying Palace’.