Brand prominence and social status in luxury consumption: A comparison of emerging and mature markets

This research investigated how the use of a prominent versus subtle branding strategy and status consumption affect consumers’ intention to buy luxury products across emerging and mature markets. To this end, an experimental study with consumers in India (emerging market) and the United States (mature market) was conducted. The results suggest that Indian (but not U.S.) consumers with a higher status consumption tendency are more willing to purchase prominently branded luxury products than subtly branded ones. On the other hand, U.S. (but not Indian) consumers with a lower status consumption tendency are more willing to purchase subtly branded luxury products than prominently branded ones. The paper discusses these findings, highlights their contribution to luxury research, and illustrates their practical value for luxury companies interested in targeting mature and emerging markets.     

Exploring phygital omnichannel luxury retailing for immersive customer experience: The role of rapport and social engagement

Omnichannel retailing has revolutionized the way retailers create strategies for engaging customers in making purchase decisions. Phygital is a new-age transformative form of omnichannel retailing that emphasizes combining the physical and digital elements, with a particular focus on the human touch to satisfy social and symbolic consumer needs. Extant research has not fully addressed the role of phygital in luxury fashion retail. We explore the research question regarding how human interactions with experienced salespeople add value to the phygital experience. In doing so, we contribute to the luxury marketing literature by addressing the research gap by elucidating the role of phygital functionality in enhancing rapport building, social engagement, and developing trust and commitment, which results in a seamless customer experience, along with enhanced loyalty and patronage. Through 18 in-depth qualitative research interviews conducted with luxury retail managers and senior retail leaders, we provide guidelines to managers and practitioners at retail firms, to create actionable growth-oriented strategies focused on leveraging phygital capabilities.     

浅议奢侈品品牌管理

奢侈业是个特殊的行业,米歇尔称为的"工匠艺术",维尔纳·桑巴特认为的"超出必要程度的任何消费",凡勃论认为的"炫耀性休闲和炫耀性消费",在不同时期和不同对象,对奢侈品的认识与看法都是运动且相对的。奢侈品行业是有着独特的公司规模,财务特征,生命周期和营销方式的特殊行业。市场特征也因为地域不同,从消费心理到消费层次都有着很大的不同。中国是一个高潜力的市场,各奢侈品牌竞相到中国圈地。通过对奢侈品和奢侈品行业的研究,探究奢侈品的概念和历史,奢侈品行业对经济增长的作用和科技发展的助推力。着重研究奢侈行业对于社会的意义,中国奢侈品市场的机遇与挑战,以及奢侈品品牌管理的问题。     

M(Art)Worlds: Consumer Perceptions of How Luxury Brand Stores Become Art Institutions

Through an ethnographic study of how consumers perceive and experience Louis Vuitton flagship stores, we show that luxury stores are becoming hybrid institutions, embodying elements of both art galleries and museums, within a context of exclusivity emblematic of luxury. We create the term “M(Art)World” to capture the essence of this aesthetically oriented strategy. Participants take note of the company's sleekly elegant architecture, interior design, and adroit use of lighting that are modelled after those of museums housing world-class exhibits. The store's merchandize is artisanal, often produced in collaboration with artists. Objects for sale are displayed alongside actual art, rendering both products equivalent. Employees function as curators, offering guidance and knowledge, as well as goods for sale. We analyze how luxury consumers experience and evaluate the ways in which luxury stores operate as contemporary art institutions, and extrapolate those insights into managerial implications for other retail venues.     

Visual strategies of luxury and fast fashion brands on Instagram and their effects on user engagement

This study aims to examine what makes the image content of fashion brands successful on Instagram, while comparing between luxury and fast fashion brands. A quantitative analysis of a massive collection of fashion photos posted by notable luxury and fast fashion brands was therefore conducted to identify specific patterns in these images based on four important visual content variables: the use of a brand name, brand logo, text, and hashtag. This study also examined how user engagement levels vary depending on each visual content variable. This study made several interesting findings: (1) luxury brand images with logos and brand names had higher user engagement whereas fast fashion brand images did not show this same trend; (2) the size of the brand name and logo in an image was negatively related to the user engagement or had no effect, regardless of the brand category; and (3) the use of embedded text within an image positively influenced user engagement for luxury brands whereas it negatively influenced user engagement for fast fashion brands.     

奢侈品品牌的线上线下营销对比分析

随着中国经济的快速发展,奢侈品对中国消费者来说已不再陌生。互联网的应用给人们消费方式带来了巨大改变。奢侈品行业也逐渐摒弃了固有偏见,开始利用网络这一新兴手段开展营销活动。本文通过对奢侈品线上线下营销策略现状进行分析,并从价格、产品、营销方式、销售渠道等四方面进行对比分析,总结奢侈品在销售过程中应该以线下营销为主线上营销为辅的营销策略,对奢侈品营销的实践具有重要的指导意义。     

Explaining variation in conspicuous luxury consumption: An individual differences' perspective

This article examines the impact of various individual differences on consumers' propensity to engage in two distinct forms of conspicuous (publicly observable) luxury consumption behavior. Status seeking is an established driver, but other managerially relevant drivers can also explain conspicuous consumption of luxuries. The study develops and empirically confirms a conceptual model that shows that bandwagon and snobbish buying patterns underlie the more generic conspicuous consumption of luxuries. In addition to status seeking, the self-concept orientation regulates which of these two patterns is more prominent. Both susceptibility to normative influence and need for uniqueness mediate the influence of self-concept. The modeled psychological constructs explain a large part of the variance in conspicuous luxury consumption patterns and can be used as input in the development of marketing strategies.     

新奢侈品的细分市场及消费者行为研究

本文在文献研究、理论分析的基础上,将新奢侈品定义为外形识别度高、具有适度品牌溢价的优质消费品,并总结了新奢侈品的特点及发展趋势;识别了目标消费者群体所在的心理学、人文的细分市场,以及分析了新奢侈品的需求曲线;在上海地区调研的基础上,总结了消费新奢侈品的产品偏好、品牌偏好。     

Co-creating value for luxury brands

The global market for luxury brands has witnessed dramatic growth over the last two decades but the current challenging economic environment contributes to the difficulty brand owners experience in ensuring that customers perceive sufficient value in their luxury brands to compensate for the high prices. According to recent service-oriented research, customers and suppliers co-create value as a result of a shift from a firm- and product-centric view of value creation to one that focuses on personalized brand experiences. In this paper, the authors develop a theoretical framework of types of value for luxury brands, and use case study research to identify processes of value creation in this particular setting. The findings highlight the variety of interactions taking place between luxury brand owners, their customers and members of their respective networks, which help to differentiate luxury brands and co-create a superior value proposition.     

Legitimately luxurious: Creating authentic luxury brands

In recent years, greater disparities in incomes and growth in wealthy consumers have fueled new opportunities in luxury markets. As firms launched luxury brands, some have thrived as others stumbled. One important difference between those who succeed and those who struggle, we suggest, is brand authenticity. Scholars have studied authenticity extensively, and research has isolated different sources of authenticity. How firms draw on these sources to create legitimate luxury brands has, however, received surprisingly little attention. In this article, we discuss the research on the sources of brand authenticity, and we explore how brands rely on those sources to craft authentic luxury brands. Using the examples of Canada Goose and Shinola, we illustrate how one firm drew on multiple sources of authenticity and, through the symbolism of its actions, successfully created an authentic luxury brand. We conclude with a discussion of the implications for other firms seeking to enter the luxury market.