Consumers can mitigate the negative social consequences of wearing luxury items by publicly revealing their passion for the products or brands
Explicitly displaying a passion for luxury products or brands can help individuals mitigate the social costs associated with luxury consumption, while still letting them reap the advantages.
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The recently concluded and Emmy-nominated American television series “Succession” charted the dynastic struggles of the obnoxiously rich (and just plain obnoxious) Roy family. But despite the characters’ ultra-wealthy status, they’d be far more likely to sport an understated look – think logo-less baseball caps and muted pantsuits – than a monogrammed designer bag or flashy haute couture outfit.
This fashion encapsulates the “quiet luxury” or “stealth wealth” trend, where moneyed consumers with high cultural capital or knowledge about luxury products opt for subtle, toned-down high-end fashion items instead of the in-your-face logos that were all the rage in the 1990s. A major factor driving the current prominence of this aesthetic is that individuals who conspicuously consume luxury products could be perceived as managing impressions or seeking status, and, as a result, may be judged as inauthentic. This perception compels certain individuals to turn to the concept of quiet luxury.
But is there a way for consumers who have this fear to eschew quiet luxury and proudly don their luxury purchases without suffering the negative social consequences? In our paper, recently published online in the Journal of Consumer Psychology, we propose that explicitly displaying a passion for luxury products or brands can help individuals mitigate the social costs associated with luxury consumption, while still letting them reap the advantages.
In our series of pilot studies, we found that many luxury consumers are passionate about luxury products or brands. However, many opt to conceal this passion from others – particularly those less close to them, such as their co-workers and social media followers – as they are concerned about receiving negative judgments from their peers.
[This article is republished courtesy of INSEAD Knowledge, the portal to the latest business insights and views of The Business School of the World. Copyright INSEAD 2024]