The emotional (and physical) appeal of luxury
International Luxury Group (ILG of Switzerland AG)
When surveyed about luxury brands, consumers often highlight distinctive design, exceptional quality, premium pricing, and exclusive availability as defining traits. These aspects differentiate luxury from mainstream goods.
However, the deeper question is why consumers choose luxury.
Speaking recently in Psychology Today, Dr Peter Murray – who specialises in consumer behaviour – says the purchase of a luxury item is frequently driven by perceptions about self-identity, social comparison, and that luxury itself can then become an integral part of a person’s lifestyle. He says that committed luxury brand consumers experience emotions of trust, security, contentment, and?confidence.
Murray explains in the article: “These emotions are evoked by perceptions that their luxury brands are authentic and timeless… it is not enough that a product is well designed and crafted with the best materials and workmanship. the luxury brands they treasure have the rare and intangible quality of truth.”
Interestingly, there may also be a neurological component at play too, with studies showing that purchasing luxury goods can activate areas of the brain associated with emotion and reward. For instance, a study by Knutson et al. (2007) found that buying luxury items activates brain regions linked to reward processing.
The human connections people have to luxury brands may explain why the physical retail experience is not only surviving but thriving – despite the rocketing rise of e-commerce.
The tactile and sensory ‘experience’ of luxury goods – such as the feel of fine fabrics or the scent of luxury perfumes – can create sensory pleasure, enhancing emotional connections. Indeed, simply being able to gaze at pristine, perfectly displayed luxury items in real life can elicit a sense of happiness.
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Value Retail founder Scott Malkin, whose company owns some of the world’s best-performing luxury shopping destinations, recently discussed the subject in a McKinsey podcast.
“The reason for physical retail, at any touchpoint, is the flagship experience: the presentation of the brand in all its glory. And it doesn’t matter where that takes place; it can be at an airport or in a mono-brand boutique,” he explained.
Experts seem to agree that this visceral, human response is vital for a luxury brand’s success – after all, a customer who feels emotionally connected to a luxury fashion house is more likely to continue buying their products and recommending them to others.
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