Not quality goods, you are buying a label. Its value is all perception, and part of that perception is exclusivity. Should we be concerned with what proportion

Not quality goods, you are buying a label. Its value is all perception, and part of that perception is exclusivity. Should we be concerned with what proportion of the price is spent on advertising, on fancy materials, on renting a store on 5th avenue, and on keeping that store attractively full of the latest garments? These are all part of creating this perception, and in a sense they are all wasteful. But companies which get the balance wrong disappear. (Perfectly functional clothing costs next to nothing now, compared to say 50 years ago. Thanks to the invisible hand. But if what you want is more clothes that everyone knows are more expensive than your neighbor's, then it can't help you.)