This is probably more exaggerated today with the status of the economy, but stop and take a look at what us women have in our closets! Yes it always feels good to make a purchase and this has gone on for years. Hmmm…does this suggest women are insecure in nature by the size of the number of items in their closets? I hope not. As a footnote, the more expensive is not always the best buy today in all purchases either, which goes to show branding is still very much alive! BD
In a study that may explain why so many Americans who are deeply in debt still spend beyond their means, authors Derek D. Rucker and Adam D. Galinsky (both Kellogg School of Management at Northwestern University) found that research subjects who were asked to recall times when someone else had power over them were willing to pay higher prices for status-symbol items.
After recalling situations where they were powerless, participants were willing to pay more for items that signal status, like silk ties and fur coats, but not products like minivans and dryers. They also agreed to pay more for a framed picture of their university if it was portrayed as rare and exclusive.