Maybe this is a cultural difference between here (Frankfurt)
Considering all of the luxury retailers I've seen in Frankfurt, and all of the branded soccer jerseys I've seen so many people wearing in Frankfurt, and all of the non-generic everything I've seen in Frankfurt, I think it's disingenuous to frame this as a geographic issue.
Perhaps if you define your geography as whatever seat you currently occupy, your argument holds. But Frankfurt is hardly immune from the concept of conspicuous consumption.