We pay a premium for brand. Take a cheap product, slap a brand logo on it, and you can charge much, much more for it.
But here’s the thing. Brand used to come with a promise. A promise of quality, of service. This, in many cases, is no longer the case. When I buy beans, I don’t care what logo they printed on the can. The exact same beans, from the same factory, without the brand, often cost way less.
The same is true for tech gadgets. You can find a TV from the company who manufactures for the big names for a fraction the price.
This is really interesting, because recently I’ve been burnt by how things have changed. I bought a belt, and the buckle broke. It shouldn’t have happened with a quality product, but it did. The (well known) seller would not replace it without the receipt. Offering to provide the card I paid with didn’t help. No receipt, no service. Now, I don’t know about you, but I don’t keep every paper receipt I get. I trusted the brand. I paid for the brand.
Here’s another case. I bought a brand new laptop. The charging cable stopped working after a week. I asked for it to be replaced. I was turned down. I had to escalate to the manager to get it sorted. Not to mention the trouble of having to go to the store to get it sorted. I’ve actually had quite a few issues with that laptop, including three faulty batteries. This was a premium laptop.
I now know I should spend more wisely. Avoid the brands. Or at least make sure you get what you pay for.