Wealthy people are going to keep getting richer, say analysts, but a rise in 'luxury shame' will mean they'll try to hide it

A shopper walks past a Prada store (Credit: Cheng Xin - Getty Images)

• EXCLUSIVE: UBS’s Paul Donovan notes that many wealthy Americans don’t perceive themselves as rich, leading to confusion between the reality and perception of wealth, a distortion fueled by social media. Bain & Company’s Claudia D’Arpizio highlights a rise in “luxury shame,” with consumers curbing visible status purchases and luxury brands needing to shift focus from elitism to culture and innovation as social pressures mount.

In times of economic volatility, wealth is often a subject that becomes politicized.