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The Trend of "Bougie Broke" Videos on Social Media
What Are "Bougie Broke" Videos?
"Have you ever been broke, but no one believes you because you don't look like a broke person?" New videos trending on social media platforms such as TikTok and Instagram are asking that very question. These videos showcase individuals who appear to be living lavish lifestyles, with scenes of expensive meals and travel destinations. However, the twist is that these individuals consider themselves "bougie broke," meaning they may look well-off but are actually struggling financially.
Destigmatizing Spending Decisions
The term "bougie broke" describes the state of always barely having adequate funds, whether in cash, accounts, or on credit cards. While hedonic or conspicuous spending usually isn't seen as a good thing, these videos may have a positive influence in destigmatizing the feelings of conflict that many people have when it comes to making spending decisions. By showcasing their financial struggles despite their outward appearance, these videos open up a conversation about money that is often seen as taboo.
Exploring Different Priorities
The bougie broke videos highlight the fact that people prioritize different things, and their flashy lifestyles may not reflect their actual financial situation. These videos challenge the assumption that someone with an extravagant lifestyle must have plenty of savings and financial stability. By dispelling this notion, they encourage a more honest and open dialogue about personal finances.
Setting Goals and Accountability
Not only do these videos take away the stigma of being "bougie broke," but they also offer a new way to share personal goals and hold oneself accountable. By communicating these goals to an audience, whether it's one person or millions, individuals can feel motivated and encouraged to keep pushing towards their objectives. This trend provides a unique opportunity for individuals to put their goals out into the world and find support and accountability.
The Rise of "Premium Mediocre" and Quiet Luxury
Another trend that is catching on is "premium mediocre," which refers to goods and services that are slightly above average. This trend challenges the idea that only the ultra-wealthy can afford high-quality experiences. Additionally, more truly wealthy individuals are embracing "quiet luxury," which is a shift away from ostentatious displays of wealth. This decoupling of spending money as a signal for wealth brings a more nuanced and thoughtful approach to financial choices.
Overall, the "bougie broke" trend on social media offers a space for individuals to discuss and explore their financial struggles, challenge societal expectations, and create accountability for their goals. It encourages a more transparent conversation about money and helps to break down the stigma surrounding financial hardship.
Conclusion: The Impact on New Business
The emergence of the "bougie broke" trend on social media brings an interesting dynamic to the business landscape, particularly for new businesses. This trend has the potential to influence consumer behavior and shape their expectations when it comes to spending and luxury.
One potential impact is a shift in consumer preferences and priorities. As these videos challenge the assumption that flashy lifestyles indicate financial stability, consumers may become more discerning in their spending choices. They may start valuing experiences and products that align with their personal values, rather than simply following trends or trying to project a certain image. This could create opportunities for new businesses that offer high-quality, reasonably priced goods and services that cater to this growing interest in "premium mediocre" and "quiet luxury."
Additionally, the open conversation about personal finances generated by the "bougie broke" trend may also impact how businesses communicate with their customers. Transparency and authenticity are valued in this trend, and businesses that can align their messaging with these principles may resonate more with consumers. Sharing stories of how the business started, the challenges endured, and the dedication to offering value for money can create a sense of connection and trust.
However, it is important for businesses not to exploit or trivialize the struggles of individuals portrayed in "bougie broke" videos. Authenticity and empathy should be at the forefront of any business's approach, ensuring that they truly understand and address the needs of their target audience.
In conclusion, the "bougie broke" trend has the potential to impact new businesses in terms of consumer preferences and communication strategies. By embracing authenticity, thoughtful pricing, and alignment with shifting consumer priorities, new businesses can capitalize on this trend and build strong connections with their target customers.
Article First Published at: https://www.cnbc.com/2023/07/08/as-bougie-broke-videos-trend-experts-say-thats-not-a-bad-thing.html.svg)
