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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Jonathan Clement's Blog: That's Rich: Do You Look Wealthy

FYI: I FEEL WEALTHY. I spent the morning in an upscale shopping mall where, as you stroll along, you can see Bentleys on display. Even the store clerks are a bit snooty. Once I was shopping for a gift and the clerk asked if I could afford the handbag I was considering. I guess, on that occasion, I didn’t look wealthy enough.
Regards,
Ted
https://humbledollar.com/2018/09/thats-rich-2/

Comments

  • God is great.
    Beer is good.
    People are crazy!!!

    Gary
  • So did you buy it??

    ***
    A tale from my (long ago) youth:

    Part 1: Am reminded of an incident (too) many years ago when i realized on a Saturday afternoon that I needed to break from yard work & go purchase a particular item (this was VERY long ago & I don't even recall the specific item). Was quickly approached by saleswoman who (a bit disapprovingly) asked what I wanted and proceeded to show me several (cheap) versions. Finally I asked "But do you carry (xxx)?" (the specific item I wanted).
    "We do, but it is VERY expensive." (More disapproving look)
    "I'd like to see it anyway."
    Grudgingly she led me to the proper item.
    "Yes, that is exactly what I came for -- I'll take it, thank you." And paid (cash) & left. (Have wondered occasionally if she actually learned anything -- probably not. )

    Part 2 (coda): I was raised in retail. Parents, grandparents, great grandmother -- each had owned a retail business, and all offspring were expected to "wait on" customers as soon as we could reach the merchandise & make change reliably. (And of course, be unfailingly polite: "The customer is always right" was second only to the Lord's Prayer.) So I found the incident more amusing than insulting & told the story quite a few times. Occasionally wondered what she would have thought had she only known. (And was suitably proud of youthful self for not ever saying a snooty word to her.)

  • There was a recent article in the NYTimes talking about how retail has changed. It used to be that people liked the experience of walking into a cavernous store and wandering around for hours looking for things they liked. (This is how Quinn describes his wife.)

    These days, according to the Times, people prefer efficiency (e.g. order on line, pick up in store) and seeing smaller but more pleasing merchandise displays and receiving good service from better paid employees.

    https://www.nytimes.com/2018/09/03/business/retail-walmart-amazon-economy.html
  • edited September 2018
    msf said:

    There was a recent article in the NYTimes talking about how retail has changed. It used to be that people liked the experience of walking into a cavernous store and wandering around for hours looking for things they liked ... These days, according to the Times, people prefer efficiency (e.g. order on line, pick up in store) and seeing smaller but more pleasing merchandise displays and receiving good service from better paid employees.

    The first type of experience referenced above brings to mind Macy's flagship store in NYC (Herald Square). I can spend an entire day wandering this gigantic multi-floor mega-store (because it's fun and engaging) and than walk out without making a single purchase. Once I spent a couple hours looking at their overpriced watches (in about 10 different areas of the store) and than bought the one I liked for half the cost at Amazon.

    My family lived in the metro Detroit area for a few years right after WW II. It was a big deal for families (especially the women) to travel into Detroit and spend an entire day actually shopping for merchandise at the sprawling J.L. Hudson store. In many ways it resembled the NYC Macy's. It was easily accessible by bus or street-car in an era when many women could not drive. With the fine In-store restaurants (like Sanders) it lent itself to a full day's experience.

    By the 60s, however, the big multi-store shopping centers in outlying metro areas were being built and began to flourish - drawing customers away from the downtown mega-stores like Hudsons - and leading to its eventual demise. There were many reasons I'm sure - but it occurs to me that the increasing mobility of citizens (ie: more cars, more reliable / user-friendly cars, the building of expressways, and an increasing population of women who could drive) played a major part. Population shift helped accelerate the change. However, even many closer to the downtown stores chose to drive farther to visit the new modern shopping centers.

    I had intended to move on to Amazon and the Internet - but the MFO word-limit is about to kick in here. Suffice it to say, selection is certainly not less on the Internet - as frequent Amazon shoppers might testify.
  • @hank
    Thanks for the look back........
    Note: I do believe the word limiter is gone, OR did you encounter a message?
  • edited September 2018
    catch22 said:

    Note: I do believe the word limiter is gone, OR did you encounter a message?

    Thanks @Catch22 - At a certain point one loses the reader (due to attention-span). I try hard to subject whatever I write to the chopping-block before posting but often fail miserably to reduce something to its essence.
    BTW - An actual limiter might not be a bad idea here. I'm not aware of any at present.:)
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