Title

Just What Does Luxury Mean In 2019

Document Type

Other

Rights

This item is available under a Creative Commons License for non-commercial use only

Disciplines

5.2 ECONOMICS AND BUSINESS

Publication Details

RTE Brainstorm Updated / Wednesday, 27 Mar 2019 16:14

Abstract

Luxury is a fashionable word. "Similar to art, luxury can be approached from different angles, with highly subjective results", argue Jean-Noël Kapferer and Vincent Bastien in The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands. "Your luxury is not my luxury".

When it comes to definitions of luxury, there are a glut of possibilities with no distinctive or definite abstract. Whilst this offers multiple possibilities, it is challenging for luxury brands to manage without a clear definition. If luxury is based on subjectivity and opinion, then what luxury goods and services offer the shopper is a number of tangible and intangible benefits.

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