Re:60% of Americans are living paycheck to paycheck, Report ...
by HWR_14 on Wednesday November 22, 2023 @08:26PM
(#38387991)
It's also a misleading statistic if true.
Part of it is that luxury goods have a wide variety of prices. A $100 watch might be classified as a "luxury good" or a $200 pair of earrings. Part of it is it was about buyers, not total purchases or dollar value.
The people who stretch to buy a pair of $300 jeans as a Christmas present are on equal footing in that statistic to the people who dress head to toe in Gucci and never wear the same thing twice.
So, yeah, 1/5 people buying a luxury good making it the item they splurge on while making under $50,000 is reasonable.
Part of it is that luxury goods have a wide variety of prices. A $100 watch might be classified as a "luxury good" or a $200 pair of earrings. Part of it is it was about buyers, not total purchases or dollar value.
The people who stretch to buy a pair of $300 jeans as a Christmas present are on equal footing in that statistic to the people who dress head to toe in Gucci and never wear the same thing twice.
So, yeah, 1/5 people buying a luxury good making it the item they splurge on while making under $50,000 is reasonable.