Has Luxury Lost Its Shine? [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance
Weak sales look like a more deep-seated problem than some brands will admit. A basic cotton T-shirt with a Christian Dior logo will now set you back $1,000. Gucci's plainest black horsebit loafers ring in at $990. How about a Brunello Cucinelli cardigan for $8,995? Shoppers pay up for luxury goods precisely because they set them apart as people who can afford to spend large amounts of money on them. But brands can only push so far before cracks start to appear. Trump's Win Cemented It: New Media Is Leaving the Old Guard Behind How Seniors Can Do Smart Roth IRA Conversions Has Luxury Lost Its Shine? What to Buy if the Election Has You Worrying About Inflation How Much Could This Car Repair Possibly Cost? Psychologists who study consumer behavior point out that people buy designer goods for emotional reasons. The main one is to separate themselves from the crowd and signal where they sit in the social pecking order. Luxury brands spend billions of dollars a year on adverti
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