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Understanding Luxury Goods Purchases: The Psychology and Motives

Explore the psychology behind consumers purchasing luxury goods, including the feel-good factor, social status, and consumer perceptions. Discover how rationalization, self-esteem, and hedonistic tendencies influence choices, along with factors like authenticity and emotional engagement. Delve into the theory of self-congruity and the impact of celebrity affiliations, art, travel, and brand heritage, highlighting the importance of total retail experiences and services.

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Understanding Luxury Goods Purchases: The Psychology and Motives

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  1. Luxury Goods The psychology behind the purchases

  2. Why do consumers purchase luxury goods?

  3. Why do consumers purchase luxury goods?

  4. The feel good factor

  5. Social status

  6. Class hierarchy

  7. Defines us

  8. Rationalization

  9. Consumer perception

  10. Peer perception

  11. Self esteem

  12. Pride of consumption

  13. Pride of consumption

  14. Hedonistic tendencies

  15. Theory of self-congruity

  16. Ultimate retail therapy

  17. Authenticity

  18. Emotional engagement • Fabrics & embellishments • Total experience regardless of retail channel • Service • Celebrity affiliations • Art • Travel • Brand Heritage

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