How luxury brands engineer desire with behavioural economics
From scarcity to market architecture, luxury fashion is manipulating our tastes. But a vintage countermovement has begun. We like to think our tastes are personal; our style and wardrobe hand-picked and self-crafted. But the luxury business model is structured to shape us – through nudges, scarcity, pricing signals and algorithmic machines. Understanding how these factors mould our choices might just help us reclaim a sense of style that’s actually our own. Luxury shoppers don’t just operate on a different budget but with a totally different mentality. The way they think about money and shoes transcends price tags. ….[READ]
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