by Jenna C, ’26

Dear Jenna,

A few weeks ago, I bought a pair of knockoff Golden Goose sneakers online because I loved the look but could not justify spending over $500 on the real ones. At first, I was excited because they looked almost identical. But after wearing them a few times, they started falling apart, and someone even pointed out that they were fake. Now I’m wondering if buying them was even worth it. I feel like I wasted money, but I also know I would never have bought the real ones. Why are knockoff designer items so tempting, even when they don’t last and might not even fool people?

From,
Second-Guessing the “Steal”

Dear Second-Guessing the “Steal,”

Your situation connects to a few ideas in economics that explain why knockoff products can feel so appealing at the moment. One key idea is that people often buy goods not just for their practical use, but for what those goods communicate to others. In many cases, the value of an item comes from the impression it creates. 

In economics, this idea is captured by Thorstein Veblen’s theory of conspicuous consumption. Veblen argues that people often purchase goods not just because they need them, but because those goods signal status, wealth, or belonging. With luxury brands, a large part of what you are paying for is not just the product itself, but what it represents to other people. 

Knockoff items tap into that same idea. They offer the appearance of that signal at a much lower price, which is why they can feel like such a good deal in the moment. It seems like you are getting the same image without having to pay for it. 

But the issue is that the signal does not hold up in the same way. Once the quality drops or someone realizes it’s fake, the value you were hoping to get from it starts to disappear. That is because the value was never just in the product, but in the perception behind it, which is much harder to replicate. 

At the end of the day, your decision comes down to what you are really trying to buy. If it is just the look, a cheaper version might work. But if it is the image and meaning behind the brand, that is much harder to imitate. 

Best of luck!
Jenna

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