Who is right? I want luxury brands, my husband wants quality

Dear Chuck,

I like buying luxury brands, but my husband couldn’t care less about the brand. He says he just wants quality. I argue we are getting both. Who is right?

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Luxury Brands Are Quality

Dear Luxury Brands Are Quality,

This is a hard argument to mediate since I don’t have all of the information about your financial circumstances. I decided to research the “luxury brand” market and give you some perspective before I reply to who I think is right.

Who is buying luxury brands?

A 2020 article at Forbes describes luxury brands as exquisite, expensive, and exclusive. Marketers aim at the middle class and use celebrities to sell a lifestyle. To retain the scarcity of their products, some companies destroy their unsold items. This 2018 article reports how Burberry destroyed items to prevent them from being stolen or sold cheaply.

The market for luxury goods was estimated to be $254 billion in 2023 and is expected to reach $370 billion by 2030. An expanding global middle class is emerging across the world and is expected to tap into this market. Luxury items are now more accessible due to the adoption of digital channels.

One unidentified online source claims that two income-earning groups account for 75% of the purchase of luxury goods: those that earn less than $56,000 per year, with a net worth of less than $6,000, and those that earn $56,000–$168,000, with an average net worth of $104,000. The point of his post is that the majority of luxury brands are not purchased by the wealthy.

Most studies agree that the wealthy are not keeping luxury brands in business. They buy assets that grow in value or increase their cash flow — or both. They buy freedom, not status. They use money to create options, not to impress strangers.

The wealthy know that money should be working for them, not the other way around. Assets generate income while liabilities generate expenses. Assets pay; liabilities cost.

It’s been said that the poor buy stuff, the middle class buy liabilities, and the wealthy buy assets.

Rather than using common sense, waiting, and trusting God, some people are caught up in the need for luxury. It boils down to what you believe about money — how you use or steward God’s money.

The appeal of buying luxury

Luxury marketing is aimed at aspirational shoppers: those who want to feel wealthier, cooler, or more successful than they can truly afford. A 2023 survey found that nearly 40% of Gen Z shoppers went into debt to purchase a luxury item. According to Bain and Company, about 75% of global luxury spending is from middle-income households. As previously mentioned, those with a high net worth account for a fraction of the sales.

The most common luxury purchases include designer clothing, handbags, jewelry, watches, and cars. Experts project that a third of the overall luxury brand market will be for apparel. However, there is a growing demand for “luxury experiences” over possessions. That, coupled with an awareness of sustainability and ethical practices, is impacting the purchase of certain items.

Luxury items are associated with strong emotions:

• The belief that a higher price equals higher quality; you get what you pay for.
• The need for higher self-esteem or acceptance.
• To reward or give a sense of accomplishment.
• To alleviate pain or sorrow.

In the God Is Faithful Devotional, Larry Burkett wrote, “Greed has become such an accepted attitude that most major advertisements for luxury products are built around it. Many committed believers are convinced (often by other believers) that it is God’s absolute responsibility to make them wealthy and successful.”

What people will do to get luxury items:

• Rationalize their behavior.
• Borrow and put themselves and their family at risk.
• Forsake future financial security for present satisfaction.
• Rob God of tithes and offerings.
• Resort to gambling or illegal activity to try to stay afloat.

We need to live our lives in such a way that we can meet our obligations as well as stand before God and give an account for our choices. To fully consider the costs of daily decisions, we must remember that eternity stretches before us and that our choices have long-lasting implications. We need to make sure our priorities for spending are greater than our desires.

Count the cost before spending money

• What’s the motivation for my purchases?
• Do I really need it? Can I find an affordable substitute?
• Does my spending teach proper values to my children?
• What’s the long-term benefit of the purchase?
• What am I sacrificing to make this purchase?
• Would the Lord approve of me buying this?

Freedom from the Grip

“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also” (Matthew 6:19–21 ESV). 

Those who struggle with the desire for luxury items can be released from the emotional grip.

They need to recognize the stronghold, confess it, repent, and be grateful for all they have. They can ask God to help them be satisfied in Him and all that He provides. Meditating upon or memorizing a passage of Scripture helps bring things into focus.

My position is that you both have a valid point. It is possible to buy a luxury brand and also get quality. However, it is also possible to buy quality and get “luxury,” without overpaying for the brand name. I am, therefore, in support of your husband’s position. A friend of mine purchases the cheapest luggage at Walmart. He says he can replace it once every year for 20 years (if it breaks) and still spend less than a luxury brand piece of luggage. We need to remind ourselves that this is all temporal. Treasures in Heaven will be far more meaningful than a Louis Vuitton handbag.

Further Reading

Rationalizing a Luxury or Indulgence
Fake It Till You Make It” Lifestyle
Why Financing Is the New Layaway

Buying luxury goods can quickly lead to credit card debt. If you’re burdened with credit card debt, consider reaching out to Christian Credit Counselors, a trusted partner of Crown. They are a valuable resource to help consolidate debt and get on the road to financial freedom.