Luxury Consumption Essay

Luxury Consumption Essay

Length: 2062 words (5.9 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

This is a literature review of online private shopping clubs a subcategory of luxury consumption. In this review, I will provide a brief orientation of luxury consumption and give further information about the latest consumer trend online private shopping clubs. The trend will be described in great detail and analysed.
The term “luxury” is routinely used in our everyday life to refer to products, services or a certain lifestyle, often without a clear understanding of the luxury concept as it takes on many forms for different people and is dependent on the experience and mood of the consumer (Wiedmann et al, 2009). However, according to Danziger (2005), luxury may be defined as something inessential, but conducive to pleasure and comfort. It is derived from the Latin word “luxuria”, meaning “excess” or the “extras of life” (Danziger 2005). With this view in mind, luxury consumption could thus be described as the consumption of any good(s) for which the simple use or display of a particular branded product brings esteem for its owner (Wiedmann et al 2009). According to Echikson (1994), people want quality and value, but if prices were lowered, they assume that you are lowering the value and the quality. It could therefore be said that the higher the price of a good, the more it is assumed the good is of a high value.
Online private shopping club is the latest innovation in the age of e-commerce and is particularly widespread in several countries like USA, Germany, Spain, UK, Turkey and France. It is simply the sale of luxury designer goods online at discount prices. Constantinides et al. (2010) cite Internet World Statistics which assert that there are more than 1.5 billion internet users and this has affected globalization, trad...


... middle of paper ...


...instead it might gain momentum because many consumers seek luxurious quality products at discount prices and there is a need for consumers to be associated with luxury brands and value. In addition, it is a convenient method of shopping that saves time.
The recession left a lasting impact on consumer’s choices and behaviour towards consumption. As a result, consumers are willing to go through any means to acquire luxury goods at discount prices even though in some cases, they don’t need the goods, but the mere fact it’s inexpensive is an incentive for them to purchase the products and this has promoted the trend. Venture capitalists and online retailers like Amazon are acquiring online private shopping club to avoid missing out on this trend (Palmer, 2010). This shows that the consumer trend online private shopping club will grow and expand further for some time.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Creating Meaning and Identity through Consumption Essay

- Under the current capitalism society and material culture, people tend to form their identities through consumption, this means more than to consume products which are needed to survive, consumption can also link to self-identity formation and expression. People are imperceptibly influenced by the mass media that self-identity can be shaped and formed through consuming specific products. Therefore it can be said, fashion is an important element of identity formation. Young people are commonly feared of being seen as outdated and seek for acceptance from the peers and the society....   [tags: Mass Consumption and Identity]

Strong Essays
1302 words (3.7 pages)

Essay on Chinese Luxury Market

- In 2005, Ernest & Young published a report on Chinese luxury market stating China has become the world’s third largest consumer of high-end fashions, accessories and other luxury goods and accounts for an estimated 12% of global sales (Young, 2005). Along with other similar reports on the booming growth of the Chinese economy and the luxury market in particular, many of the luxury brands originated from Western countries such as France, Italy and United Kingdom has already tapped into the market, those who haven’t already has plans for it are starting to do so....   [tags: Business, Consumers, Culture]

Strong Essays
900 words (2.6 pages)

Water Of Not A Luxury Essay

- Water in not a luxury; it is a necessity. However, for many people water has turned the basis for life into a health hazard. Water makes up roughly 65% of the adult body and is responsible for nurturing every living organism it comes into contact with. Conversely, it has recently been reported to do the exact opposite for many populations who have been introduced to a polluted version of this mineral. In Flint, Michigan a water crisis has placed Americans in a state of alert as media reported on the dangerous amounts of toxic lead present in Flint resident’s water supply....   [tags: Water supply, Water quality, Water pollution]

Strong Essays
1266 words (3.6 pages)

An Example Of Simple Luxury Tree House Hotels Essay

- • Experiences - are the final events, where finished products can be consumed (memorable, transformations are effectual - mõjusad) (Pine and Gilmore, 2011). • Flatters and Wilmott (2009, cited in Leigh, Webster and Ivanov, 2013) highlight a trend in that it seems that affluent –jõukad consumers have revealed mounting dissatisfaction with excessive consumption. Many desire a wholesome and a less wasteful life. As such, there is a desire to get back to nature, something that is tranquil, basic, rooted, human and simple (Yeoman, 2008)....   [tags: Tourism, World Tourism Organization, Gaze]

Strong Essays
1544 words (4.4 pages)

The United Kingdom And The European Union Essay

- United Kingdom has been part of the European Union since 1993. EU is both a political and economic agreement between 28 European countries. The idea came after WWII, that when countries are trading with each other, then it is highly likely that war will be avoided. Since then, it has evolved to a single market with free trade and it is as if acting as one country. But this all changed in June 2017, when UK voted 52% yes at the referendum to leave the European Union until 2019. Thus, creating the expression BREXIT that stands for Britain joined with exit....   [tags: Luxury good, LVMH, Richemont, Luxury vehicle]

Strong Essays
796 words (2.3 pages)

The Effect Of Changing Income On Consumption An Engle Curve Plot Essay

- A normal good is classified as a good or service that demand rises as the consumers incomes rise (Hirschey, 2009 p.165). Well, an inferior good is classified as a good or service that demand decreases when the consumers income rises. (Hirschey, 2009 p.165). Most products and industries can classify their goods or services as in one of these categories. For example, luxury vehicles can be classified as normal goods. As incomes increase the demand for luxury vehicles increase. To estimate the effects of changing income on consumption an engle curve plot can be used n(Hirschey, 2009 p.165)....   [tags: Economics, Consumer theory, Inferior good, Cost]

Strong Essays
771 words (2.2 pages)

The Perception of Luxury Scooter Brands of Vietnamese Consumers Essay

- Brand is one of the most important resources, the real identity, and public image for an organization (Heding, Knudtzen, &Bjerre, 2009). A brand represents the unique features, characteristics, quality, and reliability of the product of a company. A good brand develops an idiosyncratic, ever-lasting, and distinctive perception of the product in the minds of the customers. Keeping in view the significance of a brand, an organization must manage it in the same way as the other important organizational resources; like human, financial, physical, etc....   [tags: brand, public image, scooter]

Strong Essays
1821 words (5.2 pages)

Use Of Advertising And Its Effects On Teenagers And Body Image Essay

- "GROWTH OF LUXURY RETAIL IN INDIA” Term Paper / Minor Paper Submitted by :Harjot kaur dhillon Submitted to: Ms. Rupali Misra DECLARATION I Harjot Kaur Dhillon declare term paper/minor project report entitled " Advertising and it 's effects on teenagers and body image" that I have submitted is original. I was in regular contact with the nominated guide and contacting her for discussing the project.   Date of project : 1/9/2014 to 30/10/2014 Submitted by: Harjot Kaur Dhillon Signature: Faculty comments: Faculty signature:   ACKNOWLEDGEMENT My sincere gratitude to all the concerned people,for guiding me throughout my term paper/minor paper and helping me in reaching my g...   [tags: Luxury good, LVMH, Gucci, Richemont]

Strong Essays
2834 words (8.1 pages)

Essay on Conspicusous Consumption

- Conspicuous Consumption In twenty first century America our stories have become one and the same. The want to consume is nothing new; we work to consume, we live to consume, we are what we consume. It seems as though all of America is starting to consume the same things. Increasing numbers of Americans spend their hard earned money on unnecessary things like expensive cars and rims for their cars; massages, designer wear, imported water, and jewelry. This type of consumption is no longer only for the rich, the luxury experience has become thoroughly middle- class as well....   [tags: essays research papers]

Strong Essays
458 words (1.3 pages)

Spiral of Consumption Essay

- The main effect on consumer culture on the lives of its citizens is "[t]he erosion of the ties of community" (Sagoff 94). The problems inherent in consumer culture exist as a spiral; the lack of community beget increased need of commodities, while at the same time consumption of a larger amount of commodities dissolves the ties of the community. To impede the downward spiral of consumer culture, one must take action upon the roots of the problem, the roots of increased need and loss of community....   [tags: Sociology]

Strong Essays
1576 words (4.5 pages)