Value premiums are not necessarily the case for luxury goods
What are you really buying?
The ‘IDEA’ of Luxury
Yes!! They are different.
Why is something that is described as a ‘state of great comfort’ always associated with a negative light?
I think we can collectively blame the economists who have described luxury goods to be those for which demand increases more than proportionally as income rises.
Luxury is subjective because comfort means different things to different people. Is this where the ‘idea of luxury’ stemmed from?
The societal pressure of having people up to their standards has led to the selling of the idea of luxury. Did you buy the Chanel because you wanted to own an artisanal piece or because you wanted it known that you own one?
How are we being sold the idea of luxury?
- ABC, a blogger with 1 Mn followers said the Balenciaga was the best buy of her life. How do you know it will be of yours too?
- XYZ, a YouTuber was paid $10K to pretend to like the kicks you bought because he raved about it.
Luxury is a state of mind, a hot chocolate with roasted marshmallows on a lousy winter night is luxury for me, a Dom Perignon to celebrate a divorce could be his.
So, what is to you?