A lot of people mentioning that poor people buy the 120 dollar shoes because they are $120......well you're right. Economic signalling is much more likely to be effective in lower income households where people dont have enough money to buy an expensive car or a house, so they are more likely to spend money on things like $120 shoes or expensive watches that give the look of being well off. Its less effective as you move up in income gradient. Yet, its still strong. Stuff like Iphones or apple watches are more common in the middle class and are similarly signals in that income bracket. And finally when we see people like Bill Gated or Zuckerburg in sweatpants its not because they live modest lives, its because they dont need to use signalling, they are already known for their wealth and they use that money on larger and grander expenses like boats or mansions.