Conspicuous and inconspicuous consumption of luxury goods in a digital world: insights, implications, and future research directions
Conspicuous and inconspicuous consumption of luxury goods in a digital world: insights, implications, and future research directions
Luxury brands are conduits of attractiveness, desirability, and status and their demand has not been impacted by economic recessions or calamities like the pandemic. Over the years, consumers have purchased luxury brands to engage in conspicuous consumption in order to demonstrate elite status and wealth. Recent research on luxury brands has also generated alternate forms of luxury consumption, notably inconspicuous consumption and inconspicuous minimalism. The digital era poses significant challenges and opportunities to luxury retailers. This article explores the various types of luxury consumption and the trends that exist in digital marketing which luxury advertisers can effectively leverage such as counterfeit brands, virtual reality, augmented reality, phygital, and luxury democratization. These strategies can help luxury advertisers prepare better for engaging customers, involving them throughout different stages of the purchase decision, and bolstering sales and revenues.
Luxury brands, augmented reality, conspicuous consumption, democratization, inconspicuous consumption, inconspicuous minimalism, phygital, luxury democratization
1226-1238
Pangarkar, Aniruddha
1abf0335-547a-4644-bdc3-21767a63942a
Shukla, Paurav
d3acd968-350b-40cf-890b-12c2e7aaa49d
14 August 2023
Pangarkar, Aniruddha
1abf0335-547a-4644-bdc3-21767a63942a
Shukla, Paurav
d3acd968-350b-40cf-890b-12c2e7aaa49d
Pangarkar, Aniruddha and Shukla, Paurav
(2023)
Conspicuous and inconspicuous consumption of luxury goods in a digital world: insights, implications, and future research directions.
International Journal of Advertising, 42 (7), .
(doi:10.1080/02650487.2023.2246260).
Abstract
Luxury brands are conduits of attractiveness, desirability, and status and their demand has not been impacted by economic recessions or calamities like the pandemic. Over the years, consumers have purchased luxury brands to engage in conspicuous consumption in order to demonstrate elite status and wealth. Recent research on luxury brands has also generated alternate forms of luxury consumption, notably inconspicuous consumption and inconspicuous minimalism. The digital era poses significant challenges and opportunities to luxury retailers. This article explores the various types of luxury consumption and the trends that exist in digital marketing which luxury advertisers can effectively leverage such as counterfeit brands, virtual reality, augmented reality, phygital, and luxury democratization. These strategies can help luxury advertisers prepare better for engaging customers, involving them throughout different stages of the purchase decision, and bolstering sales and revenues.
Text
IJA AAP Pangarkar Shukla 2023
- Accepted Manuscript
More information
Accepted/In Press date: 11 August 2023
e-pub ahead of print date: 11 August 2023
Published date: 14 August 2023
Keywords:
Luxury brands, augmented reality, conspicuous consumption, democratization, inconspicuous consumption, inconspicuous minimalism, phygital, luxury democratization
Identifiers
Local EPrints ID: 481233
URI: http://eprints.soton.ac.uk/id/eprint/481233
ISSN: 0265-0487
PURE UUID: ab6f1bb5-1cd6-4d8d-8069-3ebfacda9421
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Date deposited: 21 Aug 2023 16:34
Last modified: 11 Dec 2024 05:01
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Author:
Aniruddha Pangarkar
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