Conspicuous Consumption and The Era of Excess // Book Summary of 'Luxury Fever' - Right Attitudes
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Conspicuous Consumption and The Era of Excess // Book Summary of 'Luxury Fever' - Right Attitudes
once people have tasted luxury in whatever area, it is very difficult for them to turn away from it – to come back to earth. When there is a fall in spending power, we witness a symmetrical phenomenon to the one that we identified when spending power was increased: people start cutting their expenditure on every kind of conventional product. For ex
... See moreJean-Noël Kapferer • The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands
As traditional luxury goods, such as the iconic Louis Vuitton monogram bags or Chanel number 5, have become more widespread and attainable than in the past, the wealthy need alternative ways to signal their prestige and power.
Silvia Bellezza • The Mystery of the $2,000 Ikea Shopping Bag
sari added
“Observing that demand for finer goods serves vastly different purposes and has different origins, Sombart suggests another distinction, namely that between idealistic or altruistic luxury and materialistic, egoistic luxury.
The former refers to expenditure on finer goods for public or ecclesiastical purposes, and he offers a gilded altar as an exa
James Stevens added
We're a long way from post-scarcity, which means conspicuous consumption is still a reliable signal across many parts of the world, and in lower socioeconomic groups within rich countries. But it is weakening relative to other signals, especially among the type of people likely to be reading this book, and this trend will continue. As money becomes
... See moreRichard Meadows • Optionality: How to Survive and Thrive in a Volatile World
On the one hand, luxury goods would be destroyed if they were too widespread – no one would want a designer bag that was owned by five million other people.* On the other hand, many foodstuffs seem to be popular only because they are popular.
Rory Sutherland • Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life
This paper, for instance, found three common “inner benefits” shoppers experience when buying counterfeit luxury goods: “First, being efficient by optimizing their resources; second, having fun by experiencing adventure, enjoyment, and risk; and third, fooling others expecting not to be caught.” But, the authors add, “most important, through ... See more
Racked • Why Do People Spend So Much on Fake Stuff?
Danielle Vermeer added
The thing to remember is that luxury is – and always has been – a major sociological issue in any society, because it has to do, at one and the same time, with: social stratification; the notion of practical utility and waste; decisions relating to the distribution of wealth. In other words, the concept of luxury is not a socially neutral one; quit
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