How rich people show off in India and the West

Flaunting wealth is a way of getting social recognition or feeling of being in power. The mantra of frugality seems to have been lost among the prosperous Indians. We can see a vast difference and changing attitudes to wealth and shopping in India. There is a marked preference for well-known and flashy western brands such as Louis Vuitton, Prada, Chanel, and sports car makers Ferrari and Maserati.

In India of the past, dazzling extravagance was limited to former feudal leaders who splashed out on bespoke Rolls-Royce cars, diamonds, and many items of luxury as a part of their personal collection. But in India of today, we see that luxury-seeking consumers prefer five-star hotels, boutiques, and branded wear, and best-in-class cars. People seem to have shed their inhibition to spend. This phenomenon can be seen in many Asian countries like China, Indonesia, and Thailand, in short in many developing countries.

In more developed countries of the Western World, the use of brands and luxury items is more a matter of personal preference rather than to show off to others. It has become a part of their identity. Western outlook on wealth is well explained by Ronald Wright’s Philosophy. The poor people in the west consider themselves as “temporarily embarrassed millionaires” rather than exploited underclass. They still strive to use their preferred brands and choices.

The debate is not whether the display of wealth is right or wrong. It is more about choosing the best brand and to enjoy the bespoke experience that it offers.

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