The Truth of Luxury Advertisements
How Luxury Goods Corporations Use Psychological Tactics To Sell
DOI:
https://doi.org/10.47611/jsrhs.v12i2.4438Keywords:
hype, drops, luxury, psychology, marketing, middle-class, influencer, lifestyle, consumerism, luxflation, scarcity, resellingAbstract
The luxury goods industry has many tactics to better sell and market its products to the upper class. More recently, there has been a shift in the consumer’s interest in luxury products from only the rich to now the growing middle-class. Due to recent social and economic shifts, the tendency to buy more expensive goods has increased. Corporations have adapted to this, with examples like Supreme using limited timed drops to entice consumers and give the illusion of scarcity. These concepts have been so successful that even the food industry has applied them. Also, new jobs like being an influencer/content creator have given way to new ways to publicize luxury goods. This shift has also created a way for the average teenager or young adult to be empowered by the also growing secondary market. With this new industry, anyone can start their collection without having a luxurious income and profit with products that were once unattainable for most workers.
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