Why Do People Buy Hermes Bags if They Can Buy a Nice Bag in Wal-Mart?

I received this question on Quora and couldn't stop but think about the reasons.

 

So why do people buy expensive Louis Vuitton, Hermes, Chanel bags if they can find a nice bag in Walmart?

To me, there are several main reasons.

  1. Status & feeling special. Those who just want to save most of all will buy a nice-looking purse at Walmart. Those who want to feel special and (not always but) show off, will buy Louis Vuitton or Hermes.
  2. Lots of money. Now imagine that you became really successful at what you do and started to earn 50k a month. Isn’t it just logical that now when you don’t need to save every penny you can and want to afford a nice bag?
  3. It’s not just a bag. I buy and sell preloved Louis Vuitton bags a lot and I feel that for many of my clients it’s not just an expensive bag. It’s a sign of achievement. You don’t just buy a bag, you praise yourself for accomplishing something huge - winning against cancer or being promoted. Your mind will remember this moment forever.
  4. High Quality. Some think that expensive bags also means they are more durable. Part of that is true. For instance, some Louis Vuitton bags, especially vintage, are of very high quality. As the brand emerged in the 19th century, there are generations of women who leave their bags to be inherited by their daughters and granddaughters and the bags still look nice, that’s true.
  5. Investment. When you buy a Wal-mart bag, you’ll probably just burn that money. You won’t be able to resell it ever. However, if you buy a Louis Vuitton or Chanel or Hermes, you will be able to resell it for at least 50% of the store price if it’s in good condition. You’ll also get several years of service free at the boutique: if there’s a quality issue or any other problem with the bag, it’ll be repaired for free. Moreover, the high-end boutiques are raising prices for their bags at least once every year. That means if you buy a bag, it may even keep it price or increase in price with time. Isn’t it great?

What do you think?

What are your main reasons?

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