Story power

Is a $200,000 Birkin bag expensive?

After all, it only costs $800-1,400 to produce. It’s a $1k bag with a $199k story attached to it.

What’s the story? For its target market, it’s the feeling of being a better, more important, higher status individual than everybody else around them.

A Rolls-Royce Phantom sells the same story for $500,000. A whopping $301k more expensive story than the Birkin, yet designed to achieve the same feeling.

For the target market, the Birkin bag is a steal.

But facts about the bag don’t make it a steal.
Nor do “offer stacks” or “limited time offers”.
The story makes it a steal.