Daniel Langer
Nov 14, 2019

Why luxury’s hidden value drivers matter to brands

People subconsciously ascribe enhanced attractiveness to luxury, and that expected attractiveness drives the value of luxury products significantly.

Luxury is an elusive concept. When most people think of luxury, they think “expensive.” And, yes, the price point of luxury is typically in the top 1 percent of all products in a category. However, a product in this extreme pricing tier will only be successful if the value it creates matches the price. As such, the price is a result of value creationnot the value itself. Therefore, to create luxury, brands need to create value. But...

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