As I sat at the chef’s table of Local Three, I had a moment when I decided I wanted more out of life. I had a literal taste of luxury and started calculating how to have more in life. How do I take part in more elevated experiences with great service and high-quality products? For me, that experience was an epiphany about finding spaces where I felt like was treated well and allowed myself to affirm my worth. It was no longer about the food.
Something similar, yet different, happens when everyone buys luxury. Luxury purchases are not really about the thing you’re buying. No purchase is, if you think about it. There is an underlying psychology to it. This week I’m going to go over three of the drivers behind luxury purchases -biological, psychosocial, and structural- as outlined by Dubois et al. in their 2021 paper. As you join me on this journey, I hope we both come to understand the thinking that drives luxury purchases.
A Wren Says 