Luxury Beliefs Are Status Symbols

My claim is that luxury goods are gradually becoming a noisier signal of one's position in society. This isn't to say that they don't still confer status — they clearly do. People still buy material items to signal their status. But because they've become a noisier signal over time, people are starting to signal their status with their beliefs and ... See more

The chief purpose of luxury beliefs is to indicate the believer’s social class and education. When an affluent person expresses support for defunding the police, drug legalization, open borders, looting, or permissive sexual norms, or uses terms like white privilege, they are engaging in a status display. They are trying to tell you, “I am a member

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We tend to think of status symbols starting at the top tiers of society (among the glitterati and trend setters of high society) and then trickling down to the rest of society. But a new trend seems to contradict this pattern. Instead of adopting a new luxury product or embracing fresh high-end tastes, an increasing number of prestigious brands and... See more

Certainty - Making your customers feel secure about the quality and longevity of your product reduces the fear of disappointment or the need to frequently replace the item.

Variety - Owning items that introduce a sense of novelty to a person's life satisfies their need for variety and can make them feel more excited.

Significance - Owning something c... See more

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

According to Frank, the desire for many to indulge in luxury “possessions” is motivated less by the gratification they may bring than by what others are buying or want to buy. We try to achieve happiness by improving our relative social status. For example, if your neighbor didn’t buy his new Mercedes Benz, you wouldn’t probably feel the need for t... See more