Abstract
The value of luxury is a multidimensional construct that assesses how consumers consider the various dimensions of luxury in their consumption relations. The consumption of luxury is not a trivial activity for most people, but brings a certain fascination and is part of the imaginary of the lower classes in emerging markets. The social identity of these consumers is changing because they aspire a new social position. But luxury consumption hurts the standards of this consumer profile. At the same time the self esteem is observed as an important element of people self-confirmation. For consumers, specifically, self-esteem is an important antecedent of consumption decisions. A sample of low income students was analyzed in this study to describe their relationship with luxury, and its influence on self-esteem when moderated by brand expressiveness. Through structural equation modeling this study found that the expression of the brand moderates the relationship of the value of luxury with self-esteem, allowing consumers of lower classes to observe a significant role of luxury in their lives.
Highlights
The luxury products market is growing worldwide
New clients of luxury goods can choose brands because of the contagiation experienced in seeing luxury goods being used by their acquaintances, not for adherence to brand values or knowledge about tis category (KAPFERER, 2015)
The results of this study describe the importance of brand expressiveness so that consumers of lower income can have a closer relationship with luxury value (DUBOIS; DUQUESNE, 1993) and the construction of their social identity
Summary
The luxury products market is growing worldwide. The luxury market grew 10% in terms of revenues between 2013 and 2014 (EUROMONITOR, 2015). It is a market recognized as having high rates of profitability (KAPFERER, 2014). The forecast is that demand for handbags and watches will continue to grow as it clearly signals wealth and status among consumers in both developed and emerging markets. Brands like Michael Kors, ToryBurch and Kate Spade have benefited from what's called affordable luxury (EUROMONITOR, 2015). New clients of luxury goods can choose brands because of the contagiation experienced in seeing luxury goods being used by their acquaintances, not for adherence to brand values or knowledge about tis category (KAPFERER, 2015). New clients of luxury goods can choose brands because of the contagiation experienced in seeing luxury goods being used by their acquaintances, not for adherence to brand values or knowledge about tis category (KAPFERER, 2015). Xianchi and Fishbach (2014) proposes that the desire for goods depends on the duration of non-consumption (abstention), and the presence of surrogates that are salient, that is, if substitutes are not present the period of non-consumption will increase desire
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