The Luxury Trap: Why it’s a Mistake to Define Luxury By Price

With a decrease in discretionary spending and a shift away from non-essential goods, there’s been a redefinition of luxury.

One key secret to the art of pricing luxury goods is mastering “limited edition s.” The supplier must strictly abide by its own limit; otherwise it risks losing its credibility and reputation. The limited number of units determines the scarcity and thus the value of the luxury good. A prerequisite for successful luxury goods pricing is the skill to

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Value innovation is the backbone of the aspirational economy. When the economy based on manufacturing moved to producing culture, design, luxury, art and experiences, value innovation focused on taste, aesthetics, identity and one’s social standing

“What does a luxury magazine have to contribute to the world during a pandemic? To put it bluntly - who cares about expensive chairs?”