Rory Sutherland

Okay.

Now, you have to remember that there are quite a lot of goods where the purpose of the good emotionally is to say, well, let's take the end line.

I often think there's a lot of hidden truth in advertising end lines.

The L'Oreal end line, because I'm worth it.

Some part of that is the person advertising to themself.

So, you know, when you drive around in your brand new blinged up Tesla, albeit slightly keyed, okay, you're not actually doing it to pick up chicks.

I mean, maybe you are.

I have no idea what you do in your private time.

Okay.

But let's say you bought a bright red sports car.

Yes, one purpose of it in a particular group would probably be, you know, I visibly have resources to spare.

But quite a large part of this stuff is actually signaling to ourselves.

which is, you know, because I'm worth it.

I deserve this.

I'm the kind of person who drives this.

It provides me with a kind of ego boost, a sense of reassurance, whatever it may be.

And so consequently, if you think about part of the reason why bags became very expensive is that very high-end clothing...

can only be worn in quite specific situations.

On the other hand, a bag, like a man's watch, can be worn every day.

So one of the reasons why those things are expensive is, to use a very interesting measure, cost per entertainment hour.