What is Reddit's opinion of Trading Up: Why Consumers Want New Luxury Goods--and How Companies Create Them?

From 3.5 billion Reddit comments

Buying/shopping is all about psychology.

Luxury items even more so.

This is the best book that I know about the psychology of buying: https://www.amazon.com/Trading-Up-Consumers-Goods-Companies/dp/1591840708

Quite interesting.

> brands like Patagonia, NorthFace, Paul&Shark ...

that's nothing Google this:

1. Birkin bag, then look at the price(s)
2. Google about why women buy expensive purses.

> I understand the power of a brand and making a name for yourself but are they really worth what they're charging?

They are worthy in the mind of the people paying for it and the people receiving them. At times they are one and the same, at times they are 2 different people. It they weren't worthy people would not buy them. it's as simple as that.

If you want to be amused even more, do research on:

• La Perla (brand)
• The history of engagement rings / De Beers

> I’ve heard that when it comes to startups, the most important thing is the problem, not the solution / idea.

uhmmmm maybe.

> But when I think about the problems that I have as a consumer, I haven’t actually even googled solutions to a lot of them.

LOL, good self awareness. Next time on eof your friends, family, acquaintances, co-workers or strangers complains about something, ask them "Did you try to google it?" They didn't. And if you continue down that road, and google for them and show them people with their same problem that solved it... they will tell you - sight unseen - "That won't work for me". And if you persist in "helping" them, you might even be punched in the face.

> So my question is — what’s the difference between the kind of problem that YOU (not an abstract question!) are willing to pay for and the ones you’ll continue to live with?

Here's the thing. Looong time ago I stopped coming up with business ideas for things/services that people need, and I have switched to business ideas for things/services that people want. Tink Facebook, or Instagram, Pinterest. There are no pain point, there are no problem to be solved; people didn't need those, people want those.

Since you have a keen sense of observation, go and observe this: when people buy things they need they are very price-conscious, when people buy things they want price is not an issue (hello iPhone and iPad, omakase sushi, vacations, Ferrari, Rolex....).

Good book if you want to discover more on this topic: https://www.amazon.com/Trading-Up-Consumers-Goods-Companies/dp/1591840708

It is true.

More in-depth and somewhat scientific, we (humans) don't buy the thing/service, we buy what we believe our experience of the thing/service will be (which often doesn't pan out as we believe).

This is a good book: https://www.amazon.com/Trading-Up-Consumers-Goods-Companies/dp/1591840708

And this one too https://www.amazon.com/7-Secrets-Marketing-Multi-Cultural-World/dp/1890009741/ref=sr_1_4?qid=1649521847