Choosing the Simplicity Over Luxury
By: Going Like Sixty -
Published: Nov 29, 2007 Updated: Jul 20 2011 • References: forbes
These five billionaires prefer to keep their personal lifestyles simple. You'll recognize them from the companies they keep. Enron, Ikea, Meijer Grocery, and Google. They buy suits off the rack, drive around in old cars or trucks, fly commercial airlines, usually coach. Warren Buffet, $57 billion, Ikea's Ingvar Kamprad, $33 billion, Frederick Meijer, $2 billion, Richard Kinder, Enron, $2.9 billion.
Not-so-affluent wannabe types, on the other hand, choose to fake their status:
Implications - With the recession coming to an end, consumers are looking for ways to integrate an aspect of luxury into their lives. Products that contain an element of prestige are appealing to those who desire exclusivity. In order to draw in a greater number of shoppers, a company could hone in on this.