This video is way outside my sphere of knowledge, and I've never heard of Patrick Boyle before. This video popped up on my YouTube feed, and I watched it, since economic bubbles, in any area, are something I am interested in. If you have any business interest in high end anything, check this video out.
"Americans with a household income of less than $50,000 make up about 27% of regular luxury goods consumers, according to global data."- Patrick Boyle, 5:57 in the clip above
That line blew my mind. This takes the Hood Rich and Instagram Flex ideas to a whole different level. My research has me believing we're on the verge of a major economic downturn, and hearing that Millennials and Gen Z kids are actively "investing" in Louis Vuitton bags, Rolex watches, and many other luxury brand goods, gives me the impression there's a lot of potential downside in these areas, as the economy continues to slow down. Watch the video for a lot more solid info and insight into today's luxury goods markets.
I'm doing a lot of my writing on Substack these days, check it out:
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