The relativity of values causes us to use money irrationally. I go to the supermarket to buy a $15 pen, and the clerk smiles and says, “You can buy this pen for $7 if you walk 5 minutes from here.” Then, most people walk five minutes and buy a $15 pen for $7. But if you want to buy a $1,000 jacket and the clerk smiles and says, “You can get a $992 jacket in five minutes from here,” most people simply buy the $1,000 jacket. Reasonably, walking for 5 minutes equals the effort, and the profit of $8 is the same. However, people might go to a store that sells pens cheaper, but not for the jacket, because the discount rate is too low. In other words, the relativity of comparing values makes us act irrationally. The pen’s discount rate is 55%, and the jacket’s is only 0.8%. Yet, the total amount is the same for all $8, and the effort to gain that profit is identical. Attitudes and misconceptions about consumption influence how we build wealth. - Joseph’s “just my thoughts”
It's not a generation, it's a world. The older generation thinks that Gen MZ is a different generation, but when you look deeper, you realize that the world has changed, not the generation. The older generation thinks that the offline world is more experiential and tangible, and the MZ generation is more familiar with the online world, so they regard it as a non-experiential generation because they are more indirect in human relationships and understand the offline world mainly through information. However, try going to an online shopping mall site. Suppose you want to choose clothes on a fashion site. In that case, there is nothing more real and experiential shopping than others, because not only do they display detailed fabric information and sizes, but they also have good photos of the information you can see, and even reviews from users who have already bought it. Who can do detailed and specific shopping in an offline shopping mall like this? In fact, the electronic world ...