Fake Luxury Shoe Store Prank proves Luxury is just Perception - Payless

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Payless, a low-cost shoe retailer, opened a fake luxury shoe store called "Palessi" and filled it with the brand's inexpensive footwear. Consumers paid up to $600 for shoes that retail for $20-$40. Does this experiment prove that designer brands are just perceived as being luxurious rather than actually being luxurious?