Consumer Behavior

The Paradox of Luxury: Blossom Amidst Chaos

Authors
  • Habin Kim (College of Human Ecology, Seoul National University)
  • Ho Jung Jung Choo (Seoul National University)

Abstract

During uncertain times, people lean towards luxury brands over non-luxury ones. This inclination stays even when considering materialistic tendencies, income, and everyday luxury spending. Our research emphasizes that consumers have a more favorable view of luxury goods during major crises. We also demonstrate how crises and death notifications impact luxury consumption through different means. In two separate studies, we explored how consumers tend to favor luxury goods during major crises, and how this tendency is affected by particular situations such as crisis and mortality. This has deepened our grasp of luxury consumers in uncertain situations and offered valuable business strategy insights.

Keywords: Luxury, Macro-crisis, Mortality Salience, IAT

How to Cite:

Kim, H. & Choo, H. J., (2024) “The Paradox of Luxury: Blossom Amidst Chaos”, International Textile and Apparel Association Annual Conference Proceedings 80(1). doi: https://doi.org/10.31274/itaa.17450

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Published on
25 Jan 2024
Peer Reviewed