Why Do We Love Buying Luxury Brands?
Buying a luxury handbag today seems to be no more uncommon than purchasing a set of shoes. The physical allure of luxury goods is incontrovertible — that the leather is thicker, the sneakers are more comfortable, although the price tag is frequently off-putting. Unless you have got a good job or fantastic savings habits, luxury consumer products will take a long to pay off on your credit card.
The Irrational Consumer
It is well-known that people do not act rationally, and contemplating the enormous customer debt people have, customers clearly don’t always act in their best financial interests. It has always been this way, and consumers’ desire to own the finer things in life will always be there
One of the reasons why is the way we tend to check out the positive aspects of a product when dismissing the disadvantages. It’s easy to understand why this works in favour of the luxury goods companies’ advertising departments. Apple Inc. for instance. Consumers wait overnight for brand new releases and have enormous brand loyalty even though MacBooks and iPhones are not technologically unique or exceptional. In fact, Samsung makes telephones with greater features and Microsoft Corp. and Xiaomi make phones at a significantly more affordable price point. Nevertheless, Apple appears to break sales records every year. The business has mastered the art of retail marketing and exerted more economical impact on us than any company in history.
Since some perceive non-luxury goods as poor, they are quick to point out the negatives of these products. Some conclude that higher priced products are of better quality, as demonstrated by a recent study from the National Academy of Sciences, also we spend irrationally, presuming you get exactly what you pay for no matter whether the goods are proven better than their cheap counterparts.
Self-Esteem and Luxury Goods
As per a study released by the Journal of Experimental Social Psychology, very low self-esteem is a big element in whether or not a person will purchase luxury goods they may not be able to afford. For consumers trapped in institutionalised poverty or people living paycheck to paycheck, a luxury good can go a very long way in raising self-esteem or supplying a sense of belonging.
With advertising departments developing demand for luxury goods and the rise of online shopping, a $500 scarf is only a click away. Luxury goods are the best retail therapy, and luckily for luxury brands, the Internet has made them readily accessible for impulse shopping if you’re feeling depressed.
A feeling of accomplishment is yet another reason why some people today love buying luxury brands. They, rightly, want to reward themselves for their hard work from supporting themselves to something they typically can not afford.
Authenticity Is Important
There’s a reason people will pass the fake Rolex sellers around the street to cover full-price for a true one: Despite appearing the same, the operator will know that he does not have a real luxury good.
If we are buying luxury brands to demonstrate our success to other people and to feel like we belong, why wouldn’t a fax do the trick? A study that tried to convince children a cloning machine had produced their favourite item found that most children refused to accept the replicate as identical. It turns out sentimentality of the thing, the memory or pride or feeling that comes from having bought a real luxury good, is part of why we seek authenticity. In other words, treating yourself to fake Louboutins is like not having treated yourself at all.
The Most Important Thing
People buy luxury goods for various reasons, all of which are about the strong emotions that we attach to expensive material goods. Whether we’re fiscally comfortable or not, we’ll often buy luxury items to show off to or gain approval from others and to reward ourselves for an achievement.
Reward yourself today by snapping up one of our luxury range handbags at an incredible price!