Luxury brands and lifestyle

Luxury brands are social, marketing and business phenomenon. And lots of people are willing to pay an extremely high price premium for them which is kind of not understandable for the other people. So far, the status, prestige, quality and pleasure reasons for which people are attracted to these brands are well-known. The question is what can be the next reason for attraction and how luxury manufacturers can evolve to attract consumers. What will be their next "weapon"/reason that they will use to extract high price premium from the people craving for luxury. What other types of behavior besides the known so far are related to luxury consumption? Or maybe what type of situations stimulate expression of luxury goods? Ask yourself what was the last situation you wore, displayed or by other means showed a luxury brand. Was it when you were promoted and you decided to show others your increased income going to the office with a new 3k suit.

Another thing is the comparison, when people compare themselves to celebrity lifestyle which is so much displayed by all the media nowadays. Ordinary people are bombarded by celebrity lifestyle which is the brand ambassador of luxury brands. So maybe even unconsciously they want to look like be in the shoes of their favorite celebrity. So it is not about showing off it is more about self confidence I guess which close to the self-esteem driver for luxury consumption studied in the research too. The self-confidence that the person is saying to himself: yes I look like Brad Pitt or some one else wearing this brand of clothes or something. Brand ambassadors we have for every type of good but when it is the case about luxury it seems more relevant, and more clear associations. Because if a Hollywood star is promoting pine tree air refresher the association between the brand ambassador (celebrity) and the product is not that strong, right? The luxurious, celebrity lifestyle is promoted by lots of channels. And the luxury good is like the dream, people dream about it as well as they dream about the celebrity lifestyle,which is embodied by high spending. Furthermore, it is a preferred topic to talk about, discussing the new Lamborgini model on a Saturday afternoon lounge drinks is more likely to happen than talking about the 15 years old car at your back yard. Attaining a certain level of lifestyle is a significant driver among some people. But let's look at the luxury services. Luxury travelling, for instance. Going to less popular exotic island compared to a mass-market Spanish one, what do you prefer? Eating highly unpopular meals and visiting secluded clubs. On the contrary, going to well known resorts and displaying them excessively in your social media? Which one do you prefer? To follow a certain lifestyle or to create a new lifestyle? But how about spreading your newly created lifestyle?

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