In my experience as a luxury brand management expert, I've noticed distinct regional preferences in luxury consumption. In mature markets like Europe and the U.S., consumers value heritage and craftsmanship, seeking authenticity from luxury brands. In contrast, emerging markets like China and the Middle East focus more on visible signs of status, favoring prominent brand logos. Globally, younger luxury buyers are influenced by digital marketing and celebrity endorsements, with a growing demand across all demographics for personalized experiences and bespoke services that enhance their luxury lifestyle.

The distinction between hedonic and utilitarian values among luxury buyers is crucial for brand success. Hedonic values—emphasizing pleasure, excitement, status, and self-expression—appeal to those seeking emotional fulfillment and unique experiences. For these consumers, luxury is not just a product; it’s an embodiment of their identity and aspirations. Conversely, utilitarian values—focusing on quality, durability, performance, and reliability—attract those who prioritize functionality and long-term investment. Marketers must navigate this duality, tailoring messages to resonate with each segment's motivations. By striking the right balance, luxury brands can forge deeper connections and foster enduring loyalty in a competitive market.

Los consumidores de productos y servicios high-end están motivados por una combinación de valores hedónicos y utilitarios, que varían según el segmento y mercado. Los valores hedónicos, como la exclusividad, el estatus, la experiencia sensorial y la expresión personal, son clave en mercados maduros. En contraste, los valores utilitarios, como la calidad, durabilidad, inversión y servicio confiable, son esenciales para quienes ven el lujo como una inversión. Comprender estos factores es crucial para diseñar estrategias que se alineen con los distintos segmentos de compradores de lujo.

Across all luxury market segments, consumers are driven mainly by desire, opportunity cost, and image. Desire (hedonic values) being the longing to experience a feeling/lifestyle. Opportunity cost (utilitarian values) being the rationalized benefits that the luxury purchase has over the non-luxury purchase. E.g. "The hand-crafted Italian leather bag will outlast the synthetic leather mass-produced bag, so I may as well invest in the more expensive item because it's less likely that it will need to be replaced in 2-5 years." Image (hedonic + utilitarian) being a need for validation and self-expression. E.g. "This sports car will convey my success to others, bringing me more respect and business opportunities"

Very interesting observations on this. Buyers of luxury products purchase them for the pleasure and satisfaction they derive from owning and using something of superior quality and scarcity - that is why Brands highlight the craftsmanship, uniqueness, and scarcity of their products. While the purchase is self-oriented, it can often also be driven by social and peer-pressure for the status-symbolism the products carry. Brands routinely engage celebrities and social media influencers these days to maintain this situation.

VIP Client is always looking for comfort. Particularly this need makes VIP Client choose you service and then makes them return. Demostrative behaviour can be the feature of your VIP Clientele but we can't say that it is equally a feature of every VIP Client. For example, in Russia demostrative behaviour is one of the main motives. But the same motive won't be so important for the luxury market in England.

Luxury buyers are driven by a mix of self-oriented and other-oriented motives, deeply rooted in psychology. Self-oriented motives cater to personal fulfillment, boosting self-confidence, and reinforcing self-identity. It's about feeling unique and achieving a sense of inner satisfaction through luxury. Conversely, other-oriented motives revolve around social dynamics—seeking recognition, admiration, and a sense of belonging. These buyers use luxury to signal status and forge connections. Understanding the delicate balance between these motives is key. For luxury brands, it's not just about selling a product; it's about crafting a narrative that resonates with both the inner desires and social aspirations of their audience.

The following can be considered: Self-Oriented Motives: Self-reward: Indulgence, gratification Self-expression: Identity, uniqueness Personal Achievement: Success, accomplishment Emotional Satisfaction: Pleasure, joy Other-Oriented Motives: Status: Prestige, social recognition Influence: Power, authority Affiliation: Belonging, acceptance Gift-Giving: Appreciation, affection

Globalisation of luxury brands since the 80s has surfaced obvious differences in different markets. In collectivist societies like China, social approval and status symbols are significant drivers, and marketing strategies there highlights the prestige and social validation that comes with owning luxury items.

The following can be considered: Cultural Factors: Tradition: Heritage, legacy Social Status: Prestige, recognition Collectivism: Group identity, belonging Cultural Norms: Acceptance, conformity Individual Factors: Self-Identity: Uniqueness, self-expression Personal Achievement: Success, accomplishment Emotional Fulfillment: Joy, satisfaction Personal Values: Quality, craftsmanship

Les facteurs et motivations d’achat du luxe dépendent du contexte culturel et individuel. Les motivations varient selon la nature/ classification du consommateur du luxe: -Les clients « Connaisseurs » recherchent Tradition et savoir faire voire Culture Les clients « Amateurs » recherchent une appartenance à un groupe le « clubing » -Les clients « Occasionnels » recherchent de la qualité du produit et de l’émotion - Les clients « Logophiles » recherchent de l’élévation du statut social et de l’identification à un groupe

✅ Culturally Charged! Luxury purchases can be like a secret handshake across cultures. In some places, it's about flaunting success (think: that gleaming sports car turning heads). In others, it's about subtlety and heritage (think: a timeless watch passed down for generations). It's all about understanding the cultural currency of luxury in your target market. ✅ Individuality Matters! Even within cultures, there are unique personalities. Some folks crave the exclusivity of a limited-edition bag, while others seek the emotional connection to a brand that aligns with their values. Remember, luxury isn't a one-size-fits-all deal. It's about understanding the whispers of desire that make your brand special to each individual.

Sometimes the cultural background can be the only factor a person will want to purchase your product or service. As a luxury professional, you must be attentive to your customer's needs, interests and habits.

Rational triggers: 1. Quality & Craftsmanship 2. Investment value, e.g. watches, jewelry, certain brands or editions of handbags 3. Functionality & Performance, e.g. advanced features on luxury cars Emotional triggers: 1. Status & Prestige 2. Expression of Self-Identity 3. Emotional Connection & Brand Loyalty

Luxury purchases might seem purely emotional but there's a surprising amount of logic involved. Think of it as a fancy tightrope walks on one side, the thrill of owning something beautiful and unique, on the other, the satisfaction of knowing it's crafted with the finest materials and will likely last a lifetime. For some, it's a reward for reaching a big goal, a promotion, a successful business deal – the ultimate "I made it!" moment. For others, it's about heritage, a timeless piece that gets passed down through generations. The key is understanding which side of the tightrope your target audience leans towards, and crafting your message to resonate with both their hearts and their heads.

Rational triggers speak to the mind. It’s the logical side, where quality, price, and functionality are scrutinized. On the flip side, emotional triggers tap into the heart—desire, impulse, and intuition. It’s the thrill of the chase, the emotional high of owning something exquisite. Think of a fashion lover who buys a limited-edition handbag on impulse, driven by the fear of missing out. Some buyers lean heavily on logic, while others are driven by pure emotion, and many hover somewhere in between. For luxury brands, the magic lies in balancing these triggers—crafting narratives that speak to both the analytical mind and the passionate heart.

Balancing rational and emotional triggers is essential in understanding luxury buyers' motivations. Rational triggers involve cognitive aspects like information and evaluation, while emotional triggers pertain to feelings and intuition. As a luxury brand manager, I believe it's vital to recognize that some consumers lean more towards rational decision-making, valuing detailed information and justification, while others are driven by emotional impulses and desires. Tailoring our marketing strategies to address both rational and emotional triggers ensures we appeal to the diverse motivations of our audience, enhancing their connection to our brand and driving loyalty.

Comme expliqué plus tôt, la situation homogène en Asie est un vivier d’achat. Par exemple, la reconnaissance de ses aïeux, de ses pairs, de ses collègues est au cœur de la communauté en Asie. Par exemple vous trouverez souvent des groupes d’amies qui ont toutes un Birkin et qui prennent le thé ensemble. L’émotion, faire partie d’un groupe, se sentir accepté est au cœur des groupes. Ne pas se sentir ostracisé. Alors que dans l’Occident se démarquer est préférable, émotionnellement parlant un client asiatique voudra la même pièce qu’une personne qu’il ou elle admire. Ça sera sa façon de se rapprocher émotionnellement d’une personne que il ou elle voudrait copier pour s’élever.

Comment expliqué précédemment, l’élévation est au cour de luxe. Les émotions partagées par le luxe sont des émotions d’élévation. On peut peut-être se sentir émotionnellement poussé à acheter un produit, parce qu’un amie, une personne qui nous inspire, ou une personne qui donne une image d’élévation nous donnera envie de s’élever. C’est pour cela que l’idée de « cost per wear » est devenu ultra important dans les pays asiatiques. Les acheteurs veulent avoir un sentiment d’élévation mais aussi un sentiment d’être devenu leur aspiration.

Sometimes luxury buyers choose a luxury brand because it creates the association with certain life principles that the luxury buyer follows. Such brands could be Rolex, Aston Martin or Jaguar.

Aspirational drivers are all about ambition and the climb—think of the executive who views a bespoke suit as a badge of success and future achievements. It’s the dream of progression and reaching new heights. On the flip side, inspirational influences are rooted in the present, driven by passion, creativity, and self-expression. Imagine the artist who buys a unique piece of jewelry, captivated by its design and the statement it makes. These buyers live for the moment, seeking beauty and meaning in their experiences. Luxury brands must master the art of appealing to both—crafting narratives that ignite future ambitions while celebrating present passions, ensuring they connect deeply with every facet of their audience’s desires.

I see that aspirational and inspirational influences significantly shape luxury buyers' motivations. Aspirational influences focus on future goals and achievements, while inspirational influences emphasize present experiences and creativity. Some consumers are driven by ambition and progress, while others seek passion and creative expression. By catering to both, we can create compelling brand experiences that resonate deeply, fostering lasting connections and loyalty. This balance allows us to offer a more engaging and meaningful luxury experience.

The conceptual framework developed by Vigneron and Johnson in 1999, which distinguishes between functional and emotional benefits of luxury consumption, remains highly relevant today. Their study identified five key dimensions of luxury value perception: conspicuousness, uniqueness, quality, hedonism, and extended self. These dimensions highlight how consumers derive both functional benefits—such as superior quality and craftsmanship—and emotional benefits—such as feelings of exclusivity, pleasure, and self-expression—through luxury consumption.

The thing is, we can not generalise luxury market. It's always individual. Working in the luxury market it's always about thorough examination, constant exploration and creating a vision. You need to know everything about your luxury buyer but at the same time be able to get a bird's eye view on the industry.

Here is my opinion in the Luxury Real Estate field: Discerning luxury buyers prioritize both functionality and emotional connection. For established individuals, it's about secure, efficient spaces that elevate their lifestyle. Emotionally, they seek a haven of exclusivity and prestige, a residence that reflects their success and discerning taste. For some, it's about exclusivity and prestige. Owning a trophy property signifies success and belonging to an elite circle. Others prioritize a sense of security and legacy, building a sanctuary for family generations. Wellness-focused buyers crave properties that promote a healthy lifestyle, with private gyms or serene outdoor spaces.

I feel for luxury functional benefits are given as luxury buying is not really need based, its more an emotional buying and there a lot of other factors like a sense of pride, higher self esteem, social status etc which influence the decisions of a luxury buyer. So attaching these factors in the copy or marketing collaterals will help Luxury brand marketers subconsciously create a deeper connection with the luxury buyers mind.

Bringing the reflection shared by Professor Anne Michaut from HEC Paris, consumer choice is influenced by the value created by brands and perceived by customers. There are 3 types of values: functional, emotional and social. The first refers to raw material attributes, quality, aesthetics. The second involves the consumer's emotions, what is the meaning of the product? What emotions does it awaken? And the third refers to the groups and societies that the individual who consumes seeks to assert himself or belong to.

Luxury buyers are driven by several key emotional factors, which include: 1. Status and Prestige: Elevating social standing through exclusive brands. 2. Self-Expression: Defining personal identity and style. 3. Exclusivity: Desire for rare, unique items. 4. Quality and Craftsmanship: Appreciation for superior materials and artistry. 5. Heritage and Emotional Connection: Affinity for brands with rich histories. 6. Experience and Personalisation: Valuing bespoke experiences. 7.Sustainability: Preference for ethical and sustainable brands. 8. Investment: Viewing luxury items as secure, appreciating assets. 9. Community: Desire to belong to an elite, like-minded group. These factors vary across different market segments and regions.

Modern luxury consumers are a breed apart from their predecessors, equipped with newfound financial capabilities that foster a strong sense of entitlement and the realm of possibilities. These consumers are driven by a desire for autonomy, crafting their unique luxury narratives. Today, the challenge for luxury brands isn't simply to motivate; it's to communicate in a language that resonates, aligning with the consumers' empowered sense of self and bespoke aspirations. Success lies in understanding these emotional drivers—autonomy, exclusivity, and personalization—and engaging with them on their terms, enhancing their journey in the luxury world.

Key emotional drivers and motivations of luxury buyers include: 1. Status and Prestige: Desire for social recognition and exclusivity. 2. Self-Expression: Need to express individuality and personal style. 3. Quality and Craftsmanship: Appreciation for superior quality and artistry. 4. Emotional Connection: Attachment to brand heritage and storytelling. 5. Experiential Value: Seeking unique and memorable experiences. 6. Cultural Influence: Cultural norms and values that elevate certain luxury attributes.

The emotional drivers for luxury buyers differ depending on who they are. For instance, someone buying their first luxury item might be motivated by the desire to signal success or fit in with a certain crowd—think of someone buying a high-end handbag to feel like they've made it. On the other hand, a seasoned collector might be drawn to the craftsmanship & heritage behind a brand, like someone who invests in rare watches because they appreciate the artistry & history. Then, there are those who buy luxury for its quality and durability, like a person who invests in a luxury car because they trust it will last and perform exceptionally well. Finally some people buy luxury items simply because it makes them feel good & connected to the brand.

Luxury is the dream. Most people assume luxury is just well-crafted things that have a high cost. However, there are many elements required to truly separate something as "luxury". Logic and rationality is often left for regular goods that can be compared and contrasted. Beyond price and quality there needs to be symbolism and meaning, exclusivity and inaccessibility, aesthetics, heritage, and personal identity and self-expression. Luxury touches upon the emotional levers more than the rational. Luxury requires making your audience emotionally connect to your ethos. It is about building the dream and connecting to the values, beliefs, wishes (and even fears) of your audience. It allows for the dream to become a part of their life.