I think they unbox fake items or these people are buying/selling to afford their next item and/or they’re maxing out cc. I’ve seen one instagrammer who regularly buys and sells to afford the next thing and she even admits it. There’s another instagrammer/ YouTuber who seems to have an unboxing every week and shared all her spend and bags from last year but then came out with a video stating she got some mini k that she hadn’t shared. Interestingly she also has a replica cartier bangle that she claims is real gold and someone made for her. Given the number of unboxings, her reselling in fb groups, her replica bangle and tendency to flex can we believe that mini k actually came from the store? That it’s not a replica?
Of course people can do whatever they want with their money, but it does seem antithetical to the definition of luxury when you see these influencers in what looks like college level furniture from ikea. Maybe they’re just prioritizing luxury and that’s their thing and don’t care about spending on other stuff. But I can bet most are also not saving any money or investing either. People who actually have funds to spend at H or on luxury regularly generally live in the nice neighborhoods, have the nice houses and have the nice furniture and landscaping.
There seems to be some kind of shopping addiction with those influencers you mentioned and need for validation. They seem to constantly want that purchase high. Social media is largely a factor I think but also the banks who keep handing out credit to these irresponsible people.
I saw an article about how 25% of gen x has nothing saved for retirement, 35% has less than 10k and 25% has between 10 and 50k. Around 1% has between 50 and 200k saved and the remaining 14% have over 200k saved. These are pretty shocking numbers.
Also the below 60 minutes story is quite shocking. I think this generally the mindset of luxury influencers.