Buoyed by the rise of the Middle Class during the last 25 years and the bandwagon effect created, consumer behaviour has reflected a strong shift towards conspicuous consumption. Louis Vuitton, Porsche, Rolex, Jimi Choo, Channel and a host of luxury and semi-luxury brands have capitalised on this trend by profiting from consumer ego and helped to inflate it. Possession of these brands and similar ones have exemplified what it means to belong to an exclusive social circle. They represent the status symbol that consumers require to send signals and impress their friends. …

Ola Onikoyi

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