New Luxury vs. Old Luxury

Abstract

Understanding the concept of luxury and knowing what luxury means is still necessary and pertinent research because the definition of what luxury is has not proved to be consensual, and those that exist leave out the understanding of how fragmented meanings of today's society appear and influence consumers' perceptions of luxury. While the terms of new and old luxury have gained popularity in the literature, there remains little empirical research comparing consumers' perceptions of new and old luxury brands. Therefore, it can be said that previous research on luxury contributes to improvements under the point of view centred on the product of the meaning of luxury while the current era of popularization and democratization of luxury causes confusion and, what luxury means today, remains unclear. This research intends, through an extensive literature review, to clarify the main differences between the concepts of new and old luxury brands.