Would anybody disagree that LVMH's success is majority (50%+) driven by "cognitive dissonance"? > One of the key drivers for people from modest financial backg

Would anybody disagree that LVMH's success is majority (50%+) driven by "cognitive dissonance"? > One of the key drivers for people from modest financial backgrounds to spend on luxury goods is aspirational buying. Owning an item from a prestigious brand like LVMH is perceived as a status symbol, and it allows individuals to feel like they belong to a higher social class. If you come from a modest financial background (aka, probably behind the curve on retirement/investment/emergency savings/debt/net worth goals), then dream of an expensive item you can't really afford so that it will make you feel richer than you are, while the cost of the item sets you back FURTHER on a goal you were already behind on... What % of LVMH buyers have a less than $10k net worth? What's the breakdown of their revenue/sales from "people who are ultra-wealthy and can actually afford a $100k Birkin bag" versus "people who shouldn't be buying any Gucci/LV $300-$1.2k products whatsoever from a financial well-being perspective"