How luxury transformed from opulence to populace, and what it means for brands
Sara Bernatamericanmarketer.com
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How luxury transformed from opulence to populace, and what it means for brands
“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
The rich belong to the old industrial economy and to the traditional luxury. They own objects that signify stability, security, and durability (real estate, hard luxury, antiques, high-end wine, collectible art). The core promise of hard luxury is its permanence (“You never really own Patek Philippe. You merely look after it for the next generation
... See moreAna Andjelic • The Business of Aspiration: How Social, Cultural, and Environmental Capital Changes Brands
According to Fiske and Silverstein the three kinds of “new luxury” share certain common traits, which set them apart from old luxury. Whereas old luxury goods were based on status, class and exclusivity, a new luxury philosophy inspires consumers to forge stronger emotional ties to the products and brands. Companies engage consumers and reap the be... See more
Fabian Faurholt Csaba • Redefining luxury: A review essay
Redefining luxury: A review essay
This document explores the conceptual and moral issues surrounding the definition of luxury, examines the rise of "new luxury," and discusses the demand for luxury goods in Asia.
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