The Impostor Syndrome from Luxury Consumption

Goor, Dafna; Ordabayeva, Nailya; Keinan, Anat; Crener, Sandrine

doi:10.1093/jcr/ucz044

Cited by 88 publications

(79 citation statements)

References 67 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Despite certain benefits associated with luxury consumption, such as attribution of status, preferential treatment, and affiliation with desirable social groups and mates (Bellezza and Berger 2020;Griskevicius et al 2007;Veblen 1899), recent work documents many social costs associated with the consumption of high-end, expensive products. For example, consumers who own luxury goods are considered less warm and authentic and more driven by impression-management motives than consumers who do not own them (Cannon and Rucker 2019;Ferraro, Kirmani, and Matherly 2013;Garcia, Weaver, and Chen 2018;Goor et al 2020). These negative perceptions may also be driven by a failure to consider the durability of high-end products at the observers' end.…”

Section: Future Research Directionsmentioning

confidence: 99%

Buy Less, Buy Luxury: Understanding and Overcoming Product Durability Neglect for Sustainable Consumption

Sun¹,

Bellezza²,

Paharia³

2021

Journal of Marketing

100

View full text Add to dashboard Cite

The authors propose that high-end goods, such as luxury apparel, can be more sustainable than mass-market products because they have a longer life-cycle. Across six studies, the authors examine the sustainability of high-end products, investigate consumers’ decision making when considering high-end versus ordinary goods, and identify effective marketing strategies to emphasize product durability, an important and valued dimension of sustainable consumption. Real-world data on new and secondhand accessories demonstrate that high-end goods can be more sustainable than mid-range products because they have a longer life-cycle. Furthermore, consumers engage in more sustainable behaviors with high-end goods, owning them for longer and disposing them in more environmentally friendly manners. Nevertheless, a series of studies shows that many consumers prefer to allocate the same budget on multiple ordinary goods in lieu of fewer high-end products partly because of product durability neglect, a failure to consider how long a product will last. Finally, this research offers actionable strategies for marketers to help consumers overcome product durability neglect and nudge them towards concentrating their budget on fewer high-end, durable products.

show abstract

Section: Future Research Directionsmentioning

confidence: 99%

Buy Less, Buy Luxury: Understanding and Overcoming Product Durability Neglect for Sustainable Consumption

Sun¹,

Bellezza²,

Paharia³

2021

Journal of Marketing

100

View full text Add to dashboard Cite

show abstract

“…as an incident factor in purchasing luxury (Dhaliwal et al, 2020). Therefore, several psychological variables have been investigated to explain the motivations for luxury consumption, such as propensity to materialism (Mainolfi, 2019;Sun et al, 2014;Wong & Ahuvia, 1998), self-concept (Gil et al, 2012;Nyadzayo et al, 2020;Truong & McColl, 2011), attitudes towards luxury consumption (Dubois et al, 2005;Jhamb et al, 2020;Schade et al, 2016), personality traits (Kastanakis & Balabanis, 2012van Schalkwyk, 2014) and self-authenticity (Goor et al, 2020;Morhart & Malär, 2020).…”

Section: Consumers' Psychological Characteristics Have Been Recognizedmentioning

confidence: 99%

Personality traits influencing young adults' conspicuous consumption

Barrera

Ponce

2020

Int J Consumer Studies

View full text Add to dashboard Cite

Consumption of luxury goods constitutes a growing industry in vari-ous developing economies such as China, India and South American countries such as Chile. The True-Luxury Global Consumer Insight 2018 study (BCG & Altagamma, 2018) forecasts an increase in the luxury market by 347 billion euros between 2017 and 2024 worldwide. In this category, the new-luxury subcategory stands out, which is defined as premium products that are affordable to middle-income consumers (Silverstein et al., 2008). The new-luxury is related to the massification of luxury generated by technological and management improvements, which involve reducing production costs on exclusive and high-priced goods. Brun and Castelli (2013) point out that the new-luxury is affordable for a large group of customers, as it is not limited to scarce and prohibitive products, such as jewellers, mansions or yachts. According to Kumar et al. (2020), the marketing of luxury brands targeted to middle-class to develop mass prestige, is a new phenomenon and represents a good opportunity. A group that has been the focus of prestigious and accessible brands are young adults because of their higher income and access to technology (UBS Group AG, 2018).The growth in luxury consumption has encouraged the development of research that seeks to explain why customers acquire them, especially, to understand the motivations that guide their purchase

show abstract

“…They suggested that power can affect the psychological utility which can affect spending behavior of consumers. However, Goor et al (2019) showed that luxury consumption may lead consumers to behave less confidently due to their undermined feelings of self-authenticity.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Threatened individuals want to purchase status goods to ease their psychological pain when alternate affirmative resources are not available. Status goods provide individuals with important psychological support to protect their self-integrity against negative psychological situations (Sivanathan & Pettit 2010).On the other hand, according to Goor et al (2019), nonluxury products are less likely to make individuals feel inauthentic because they are not accepted as products providing a privilege. Pino et al (2019) approached the issue of purchasing luxury products from a different perspective, and they investigated the effects of brand prominence and status consumption on consumers' willingness to buy luxury goods across emerging and mature markets in India and the United States.…”

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Lüks Mal Talebinin Belirleyicileri: Üç Avrupa Ülkesinde Karşılaştırmalı Bir Çalışma

Ergün¹

2021

Journal of Yaşar University

View full text Add to dashboard Cite

Identifying the determinants of luxury consumption may produce positive results for marketing. This study is based on an online survey including the participants from Romania, Spain and Turkey, and it aims to reach possible factors that may affect the demand for luxury goods. It investigates the factors affecting the demand within the framework of purchasing luxury goods by using logistic regression. The analyses reveal a likelihood of positive relationship between the demand for luxury goods and financial future expectations, and show that those who do not consider themselves financially secure in the future have a higher likelihood of demand for luxury goods than those who feel secure about their financial future. The result also demonstrates that being in low-income classes has a likelihood of positive impact on purchasing conspicuous status goods. It can be concluded that compensating for feelings of powerlessness might increase demand for luxury goods. Luxury good demand of individuals spending according to their budget is likely to be higher than those who don't spend according to the planned budget. Individuals having positive economic behavior might spend for luxury within their budget limits. The results of this study may provide a new approach to shape the luxury demand of individuals. Considering the consumers' psychology for future expectation may be useful for marketing managers who intend to increase the demand for luxury goods.

show abstract

The Impostor Syndrome from Luxury Consumption

Cited by 88 publications

References 67 publications

Buy Less, Buy Luxury: Understanding and Overcoming Product Durability Neglect for Sustainable Consumption

Buy Less, Buy Luxury: Understanding and Overcoming Product Durability Neglect for Sustainable Consumption

Personality traits influencing young adults' conspicuous consumption

Lüks Mal Talebinin Belirleyicileri: Üç Avrupa Ülkesinde Karşılaştırmalı Bir Çalışma

Contact Info

Product

Resources

About