Valance Fernandes, a consulting group executive, has taken a dig at the status-conscious Indian middle class for being willing to buy a Rs 32,000 cabin bag as a therapy for income anxiety.
In a LinkedIn post, Fernandes said that brands selling Rs 32,000 cabin bag are aware that consumers will pay 8 times more since they have identified their insecurity price point. “The Rs 32,000 Cabin Bag Told Me Everything Wrong with the Indian Middle Class. Was buying luggage. Saw a Rs 32K cabin bag. Not luxury that is Rs 2L+. Not premium that is Rs 12K. This is something worse, Insecurity Pricing,” Fernandes wrote.
Fernandes asserted that Rs 32K is equivalent to the monthly rent for most Indian metros, four months of weekend outings for some or an annual gym membership. He said that Rs 32K is “for a bag that does what Rs 4K does”.
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Fernandes stated that brands know that consumers will pay 8 times more for one reason that “you are not rich enough to not care Rs 2L, but too status-conscious to buy sensible Rs 4K. They have found your exact insecurity price point.”
Fernandes wrote, “The couple earning Rs 20-30L combined. The consultant who just made Senior Associate. The startup employee with ESOPs but no cash. You will buy this. Not because it is better. Because it is expensive enough to feel special, cheap enough to rationalize.”
Fernandes said that the Indian middle class is not buying products anymore, “We are buying therapy for our income anxiety.”
Netizens Reactions
The post has received widespread response on social media.
One user commented, “It is crazy how often we justify these purchases as “investments” when they are really just ways to soothe status anxiety.”
Another user commented, “Some price tags sell quality, others sell quiet reassurance that we are doing okay.”
“Vanity is a big market. And nothing wrong with that. Why be so judgmental? You do not like it, do not buy,” commented one user.
One user commented, “Some products are always better than others. A nike or adidas shoe will always better and expensive compared to a cheaper indian made one.”
