Wouldn't the opposite be just as bewildering then? There really is no difference between buying a Hermes dress and buying Dickies overalls, right? Each item makes a statement and each person is well aware of the statement it makes. Both can be bought for practical reasons. Both make comments on social placement. Both help people identify themselves. Both help find/identify suitable mates.

I too find it so hard to believe people spend so much on apparel, but that thought is no different than people finding it odd that I spend so little. Of course, some items are easy to liquidate and others are not.