Status symbols are shifting from possessions to experiences

The Hermès Birkin bag has long been seen as the top status symbol. However, new trends suggest that people today value experiences over material possessions. This shift is prompting investors to rethink what holds true value. The Birkin was made popular by the TV show "Sex and the City," where it became a coveted item with a long waiting list. It remains popular even after two decades, with strong sales both new and second-hand. Reports indicate that its resale value has increased faster than that of gold. This demand has helped Hermès thrive in a challenging luxury market. Despite its ongoing popularity, experts question how long the Birkin's allure will last. The concept of the "Experience Economy," introduced over 20 years ago, suggests that people now prioritize experiences like travel over owning expensive items. Investors may need to consider this shift as they look for profitable opportunities.