David Dubois, Sungjin Jung
This chapter proposes a triadic framework that offers a fresh lens on recent advances in luxury consumption at three distinct levels. First, we review broad systemic forces shaping the contours of the “luxury space” which governs the extent to which certain types of items and practices become more (or less) tightly associated with status over time. Second, we discuss strategies and tactics that firms use to enter the luxury space and make their offerings more appealing within that space. Third, we turn to individual-level dynamics that guide how consumers engage in, internalize, and respond to luxury consumption. We then suggest that integrating these three levels of forces – systemic, firm-level, and individual-level – can inform future research on luxury consumption. While the bulk of research to date has examined how these forces influence individual consumers and their luxury consumption, we propose that focusing on how forces at different levels interact to shape one another may offer promising opportunities for future work in the area. © 2023 Cambridge University Press.
INSEAD, Singapore
