Why are some people (including wealthy) so cheap when it comes to electronics?

[richteer]

Originally Posted by me_inside

I used to be a manager at a Target (in a wealthy area) and let me tell you that we would get Drs and lawyers that would get OFFENDED if you tried to sell them a TV that was more than 200 bucks. I remember when DVD players were about 300 bucks for a single disk player (2000-2002) and they would call people who pay these prices "idiots". These same people would make the claim that DVD and VHS look the same (same wealthy people, mind you). Don't get me started on the comments made about the people who paid 600 bucks for the PS3. Working in retail I'm always amazed at the number of wealthy people who dislike spending money on electronics. Yet, you got some J. six packs that snap up every 0% offer and buy a good chunk of the store. Maybe wealthy people prefer different things? Maybe some of these people who ***** about gadgets go and buy a 30k car every 18 months or so? What are your opinions?

I think it simply comes down to a lack of education about things high end. Most people are unaware--or at best dismissive--of the benefits high end gear can bring (witness the thread here not so long ago about people decrying expensive speakers and audio cable). Conventional wisdom is that a $699 brand-X receiver is more than capable of doing the job, so those disinclined to do their own investigations (in the right places) will go along with that, blissfully unaware of what the extra $$$ could buy them.

People "know" the benefits of a Ferrari over a Ford, but getting the word out about the benefits of, say, Audio Research amps over those from Sony is a lot harder...

[richard lichtenfelt]

Originally Posted by Toony

Who said vacations, sports cars, big houses and other things aren't enjoyable? way more to life than this stuff, way way more.

Any rich person as described in the initial post who won't pay $200 for a tv and would complain about prices at a Target store to an employee isn't very likely to spend money in a frivolous or entertaining manner.
My statement stands, if you are a tight wad who has tons of money yet complains to discount store employees then you are either bizarrely greedy or fearful.
Why complain to a retail employee anyway, it's not like they have anything to do with the prices?. It is just rude.

[Toony]

Originally Posted by richard lichtenfelt

Any rich person as described in the initial post who won't pay $200 for a tv and would complain about prices at a Target store to an employee isn't very likely to spend money in a frivolous or entertaining manner.
My statement stands, if you are a tight wad who has tons of money yet complains to discount store employees then you are either bizarrely greedy or fearful.
Why complain to a retail employee anyway, it's not like they have anything to do with the prices?. It is just rude.

Well, you're cutting to and from the OP and what I said, I'm not the OP. And while I respect your opinion its just that, an opinion. Maybe you're reading more into the OP than I am, I'm just not seeing what you are apparently. About the "frivolous" part, one mans must-have is another's frivolous, I see it every single day; its really not all that new or surprising for that matter.

[yellowblanket]

Originally Posted by me_inside

My parents were pretty cheap, thay retired with a paid-off home and 600k in the bank, but they taught me that going through life holding on to cash for dear life is stupid. Blow 15% of what you make on what you want, no questions asked and the other 85% for bills, savings and retirement. A formula that at 24 I'm already following.

oh crap! i;ve been doing the opposite way! 85% on what i wanted and 15% for bills! lol

[w_tanoto]

I am poor, but when it comes to laptops and electronic things, I would spend more money. I prefer Sony over any other brand (except laptop - which will be HP for me). As you all know, sony is often overpriced, but I am willing to pay more to get Sony.
For accessories, yes, I would be very stingy, and wouldn't care what the brand

[CptGreedle]

I got a financial planner top help me out. We are saving as much as we can now... in fact we are on a plan to maximize out savings so a lot of things are being moves around. I think I am planning to just save as much as I can next year, only making occasional Blu-ray and game purchases or rentals.
I can't afford much more than that until I have a lot more saved.

[MacDaddyOJack]

It all depends on the person. Most of us here are more than happy to pay top dollar for quality electronics. Some others may just want a set to watch football on. Their eyes might even be bad anyways so HD doesnt matter to them much. I dont regret spending thousands on my tv, not one bit. But at the same time, I will never pay $70 for a Ralph Lauren polo shirt because I think it's absurd. These rich people may be the same way about tv's, I guess it depends from person to person.

[cawgijoe]

Originally Posted by me_inside

Everything in life is subjective. I personally don't think spending hundreds on a game console is stupid, but many people do. I personally think the cost of raising a child has gotten to the point that I wonder if it is even worth it, yet some people think it is worth every penny including their possible retirement. Everything is subjective!!!!!

Exactly.

People spend their money on what interests them. Some people travel, others drink, for some it's electronics, golf, and on and on........

I know people who spend all their money on cars........it's all subjective folks.

[Barnum]

Originally Posted by me_inside

I used to be a manager at a Target (in a wealthy area) and let me tell you that we would get Drs and lawyers that would get OFFENDED if you tried to sell them a TV that was more than 200 bucks. I remember when DVD players were about 300 bucks for a single disk player (2000-2002) and they would call people who pay these prices "idiots". These same people would make the claim that DVD and VHS look the same (same wealthy people, mind you). Don't get me started on the comments made about the people who paid 600 bucks for the PS3. Working in retail I'm always amazed at the number of wealthy people who dislike spending money on electronics. Yet, you got some J. six packs that snap up every 0% offer and buy a good chunk of the store. Maybe wealthy people prefer different things? Maybe some of these people who ***** about gadgets go and buy a 30k car every 18 months or so? What are your opinions?

Most of the people that I know that are rich are cheap about everything. I guess thats how they became wealthy in the first place.

[gand41f]

Originally Posted by cawgijoe

Exactly.

People spend their money on what interests them. Some people travel, others drink, for some it's electronics, golf, and on and on........

I know people who spend all their money on cars........it's all subjective folks.

Yeah. I bet if there's a forum.cuban-cigar.com, there would be postings from people who work at a tobacco shop complaining that there are some techie people who get upset if you offer them a cigar that's more than $100 (I have no idea where that price stands in terms of quality cigars, so don't get offended ) while they have no trouble spending over $1000 on TVs...oh the horror.

enjoy
gandalf

[jsteinhauer]

This whole thread makes me think of the unemployed guy with all the HDTV's. Nothing annoys me more than unemployed people blowing all their welfare money on electronics, cigarettes, beer and women.

[BTBuck1]

I wouldn't say this is the norm. It could be that when they go to TARGET, they aren't there to break large coin on electronics.

Ask Magnolia High Fi what kind of customer base they get, and prefer...it's usually someone who's name ends in Esquire, p.h.d, d.d.s etc. or begins with Doctor

They are out there, they just don't do their big hometheater projects from Target Electronics dept.

[Galley]

When I worked at Best Buy in '95, folks wanted the cheapest piece of crap available.

[dtrush]

I don't save anything as of yet. Why when the dollar isn't worth the paper it's printed on? Thanks Federal Reserve! We love you

[BTBuck1]

Originally Posted by jsteinhauer

This whole thread makes me think of the unemployed guy with all the HDTV's. Nothing annoys me more than unemployed people blowing all their welfare money on electronics, cigarettes, beer and women.

Don't be "Hatin"

[MaleManGuy]

Originally Posted by me_inside

I used to be a manager at a Target (in a wealthy area) and let me tell you that we would get Drs and lawyers that would get OFFENDED if you tried to sell them a TV that was more than 200 bucks. I remember when DVD players were about 300 bucks for a single disk player (2000-2002) and they would call people who pay these prices "idiots". These same people would make the claim that DVD and VHS look the same (same wealthy people, mind you). Don't get me started on the comments made about the people who paid 600 bucks for the PS3. Working in retail I'm always amazed at the number of wealthy people who dislike spending money on electronics. Yet, you got some J. six packs that snap up every 0% offer and buy a good chunk of the store. Maybe wealthy people prefer different things? Maybe some of these people who ***** about gadgets go and buy a 30k car every 18 months or so? What are your opinions?

I knew a doctor who was married to another doctor and they had a house warming party. The guy secretly kept track of all the home-made beer everyone drank and charged them all afterwards... i think it's a doctor thing...hahaha

[ehaser]

I can relate with this thread. I see this all the time. People will spend 8k+ on a snowmobile, SUV, Personal Watercraft, etc. When it comes to electronics, they have a $200 tv and vhs set. Here's the stupid part (to me) they spend 3+ hours every day watching tv and movies on that piece of crap TV and use that 8k snowmobile once a year on their trip to the mountain...

My wife will blow 300 - 500$ a month no problem just buying fricking decorative stuff. Yet I mention a 700$ Onyko 805 and she flips out about us starving to death because of my toys?

Personally I think people have a stereotype against techies and think that buying expensive electronic equipment means that you're wasting your life doing non-productive activities.

[JadedRaverLA]

Originally Posted by BTBuck1

I wouldn't say this is the norm. It could be that when they go to TARGET, they aren't there to break large coin on electronics.

Ask Magnolia High Fi what kind of customer base they get, and prefer...it's usually someone who's name ends in Esquire, p.h.d, d.d.s etc. or begins with Doctor

They are out there, they just don't do their big hometheater projects from Target Electronics dept.

That was my thought too. I used to work selling home audio/video at a local higher-end retailer. Most of my customers wouldn't have been caught dead shopping for electronics at target. The people with money and a desire for an excellent home theatre demand quite a bit more quality and service than Target can provide. If people in that tax bracket are shopping at Target, it's because they don't care and just want a deal. Many of the people I dealt with insisted on auditioning speaker wire and audio interconnects to determine which produced the most neutral/authentic sound in their systems. Trust me: dealing with customers who bicker about price can be a whole lot easier than customers who think they can really hear a difference between different $300 sets of audio interconnects. That said, I envy those customers... and the systems they had.

[T-Town Oil]

to whom it may concern. don't take financial advice from someone who isnt rich spend it if youve got it, save it if you dont

[Maxell]

It's about low prices. If you see a product that costs say $50 it makes it much harder to sell a similar but more enhanced product for twice or more times that. (examples: rca dvd vs Denon dvd, jvc gumy earphones vs Bose earphones, Westinghouse LCD vs Panasonic LCD, etc) Many wealthy people are smart and other non-rich people are looking to "save a buck". There's only 2 groups of people that really don't mind: those that want the best and/or newest product right now, and those who dont care how their money is spent. Everyone else either wants a good deal or at least wants to be assured that they are fully happy with what they are paying for.