1. Class Issue. Higher income folks see Allen Edmonds as basic no-frills business shoes a la Chevrolet as they have no issue dropping $1k for a pair of Vass or a payment on their Mercedes. Middle Class folks see $300 as 3x more than they would ever spend on a shoe and equate Allen Edmonds to "unattainable" Luxury cars such as Mercedes or Lexus. Both groups are right as it is all about perspective.
+1, well said