A new style has emerged and redefined the status symbol of poor. Called, not simply, the Poorgeoisie, this group of wealthy hipsters spends luxurious amounts to look like hobos. Despite the recession, luxury is in while gaudy is out.
Now, top designers and retailers are tailoring their products and campaigns to this shift in taste of “virtuous consumption”, as Thomas Frank calls it in the July 2009 issue of Details. For this group, products need to have a story, a meaning and a purpose to be bought for justification.
A great article in Details talks about the Poorgeoisie in depth with some interviews and examples of companies who cater to this shift in lifestyle.