The Veblen effect is named after the economist Veblen. It refers to the phenomenon that the higher the price of a product, the more popular it will be. This is an irrational phenomenon from a psychological point of view. Because if a piece of clothing of the same quality and style is placed on a street stall, its sales will be poor, but if it is placed in a counter in a shopping mall, it can sell for dozens of times the price. How do people’s consumption needs change as prices change? Standard life Affordable luxury products are products between luxury goods and affordable products. In terms of price, affordable…