Daniela Castillo!
ULACIT, 2020
The Pricing Paradox
“The paradox explained in the article is something we kind of are born into. We
are taught that good things are expensive, and price reflects the quality of what you are
buying. This is why we aim to purchase the most expensive things in the market since
these are supposed to be the best available out there. Reality is that this not always
applies, you sometimes are paying more for “status” as the article mentioned rather
than usefulness. This kind of items have the ability to change people’s perspective on
you and who you are.!
“For me, this is mostly seen in fashion brands, eyeglass frames and coffee.
Brands like Chanel, Louis Vuitton, OFF-WHITE, Hermes
and other are luxury brans for which people are willing to
pay millions to be able to wear their clothing. Bags, shoes
and shirts can cost over $5,000 per item. Imagine paying
a whole outfit from one of the brands mentioned above.
The only thing making the major difference between these
brands and more “commercial” brands like American
Eagle and GAP is that you are paying more than $500
additionally so that a purse, a shirt or a hoodie can give
you status. Materials to make that item might come from
the same suppliers. This overpayment can also be seen
by the price difference between the manufacturer
company of the items the brand sells and prices the store gives it. A great example at
the moment is the Lululemon leggings people are going crazy about, you can get
literally the same leggings, without the “Lululemon” stamp for half the price; it is literally
the same thing, same quality, same materials, just different labels at tag.!
“” The second example is eyeglass frames, the
pricing in some frames is just ridiculous. Recently, I
be $12 or $15 depending on what your preferences are, and
the only thing different is the cup it is being served in.