Though I personally appreciate a good deal, others are more likely to invest substantial money into items such as sneakers.
Sneakers are a wardrobe essential for anyone, with some affluent individuals spending astonishing sums on them.
Some of the priciest sneakers ever auctioned were part of ‘The Dynasty Collection’, featuring six individual Air Jordan sneakers worn by Michael Jordan during pivotal basketball games in his career.
According to GQ, these sneakers were reportedly sold for an astounding $8 million.
In another instance, a pair of Louis Vuitton and Nike Air Force One sneakers designed by the late Virgil Abloh fetched $352,800 in 2022.
On the other hand, shopping at places like Payless typically means spending less than $40 for a pair of shoes.
However, the brand’s low prices can deter some buyers, prompting Payless to conduct a social experiment.
In 2018, Payless set up a faux luxury store, temporarily rebranding it as ‘Palessi.’
They invited a number of VIPs and fashion experts to the Los Angeles store’s launch event and gathered their opinions.
Many attendees praised the products’ quality, expressing a willingness to spend over $200 on them.
Unbeknownst to them, the shoes’ prices were inflated by as much as 1,800 percent, with Payless employees merely covering the original logo with a fake Palessi sticker.
Some visitors were so convinced by the guise that they purchased the shoes at the steep prices.
The store accumulated $3,000 in sales before Payless confessed that the entire setup was a ruse.
Those who made purchases were refunded and received the shoes they bought at no cost.
The experiment was featured in a series of Payless commercials, capturing people’s astonishment upon discovering the shoes’ true origins.
One individual exclaimed after suggesting they would pay $500 for sneakers, “Shut up! Are you serious?”
Someone else remarked under a YouTube video about the experiment, “Luxury brands are basically doing this ‘prank’ since forever.”
Move over, Balenciaga and your $800 sneakers; an affordable footwear brand is making waves.