In recent years, luxury consumption has expanded and grown significantly in comparison to past years. Today luxury is more accessible by society than ever before. Various studies have shown and proven how luxury consumption tends to have negative effects on individuals. The negative circumstances that emerge as consequences can be of cognitive character, but also in the form of financial, personal, social and/or professional problems, debt, and compulsive purchases. In addition to these findings, recent studies have also shown that people are ready to compromise in a variety of ways such as saving more money, working overtime, or withdrawing from essential expenses.  For these various reasons, the purpose of this study is to identify possible experienced motives that can work as reasons for luxury consumption amongst the young Swedish population. Furthermore, this study aims to examine regret in relation to this type of consumption. The literature review of this study covers subjects of cognitive dissonance, regret theory, possessions and the extended self and the motives hedonic, symbolic and instrumental. The research method applied in this study is of a qualitative character. The data collection was executed through the use of semi structured interviews where a total number of fifteen young Swedish individuals chose to participate. The results of this study reveal that luxury consumption can be based on the hedonic motive where pleasure, joy, satisfaction or reaching a desired goal are common reasons. Moreover, the results of this study also reveal that luxury consumption can be based on the symbolic motive, where individuals desire to symbolise/express themselves, impress others, seek confirmation, to fit in and/or follow hidden norms in society. Furthermore, luxury is desired for the pure quality, where the high price of luxury products equals higher perceived quality.  Moreover, regret in this type of consumption is regularly occurring. The reasons for regret can be caused by the product itself, by comparison to other possible alternatives or because of impulsive/compulsive/stressful decisions. This feeling of regret can exist in the form of cognitive dissonance, that is a feeling of discomfort for a small number of participants. For a larger number of participants, the feelings are separated, where regret is a more rough and painful feeling. Solutions to suppress these feelings are through giving away the products to be used, persuade the mind that the purchase is deserved, or to shed a positive light at the purchase by looking at it as additional knowledge/ experience. / Under de senaste åren konsumeras lyx mer, och har blivit mer tillgängligt för allmänheten i jämförelse till tidigare år. Ett flertal studier har visat på hur lyxkonsumtion tenderar att ha negativa effekter på individer. De negativa omständigheterna som framträder som konsekvenser av lyxkonsumtion kan vara av en kognitiv karaktär, men även i form av finansiella, personliga, sociala och/eller professionella problem, skuldsättning, och kompulsiva köp. Dessutom visar studier även att människor är redo att kompromissa på olika sätt som att spara mer pengar, jobba övertid eller att utebliva nödvändiga utgifter. För dessa diverse anledningar är syftet med denna studie att identifiera möjliga upplevda drivkrafter för lyxkonsumtion för det unga svenska samhället. Vidare ämnar studien även att undersöka ånger i förhållande till denna typ av konsumtion. Teorigenomgången för denna studie behandlar ämnen om kognitiv dissonans, regret theory, ägodelar och det förlängda jaget samt motiven hedonic, symbolic samt instrumentell. Empiriinsamlingen skedde genom en kvalitativ forskningsmetod som i sin tur bestod av femton semistrukturerade intervjuer med svenska ungdomar som lyxkonsumerar. Resultaten av denna studie visar på att lyxkonsumtion kan ske med anledning av hedonistiska aspekter där glädje, nöje, tillfredsställelse eller en avklarad målsättning var vanligt förekommande anledningar. Fortsättningsvis visar studien även att symboliska motiv var en vanlig drivkraft för lyxkonsumtion, där individer strävar efter att symbolisera/uttrycka sig, imponera på andra, få bekräftelse, passa in i samhället samt följa osynliga normer. Utöver detta var lyx eftersträvat på grund av kvalitet, där höga priset av lyxprodukter förutsätter högre upplevd kvalitet.  Avslutningsvis påvisar resultaten av denna studie att ånger inom denna typ av konsumtion är vanligt förekommande. Orsakerna för ånger kan bero på själva produkten, på jämförelse av produkten med andra alternativ eller på grund av impulsiva/kompulsiva/hastiga beslut. Känslan av ånger kan vidare vara i form av en kognitiv dissonans, som i sin tur betecknas som en känsla av obehag av en liten del av deltagarna i denna studie. För en större del av deltagarna var känslorna åtskilda, där ånger var en grövre och mer smärtsam känsla. Lösningar för att dämpa detta obehag är genom att ge bort produkten för användning, övertala sig själv att köpet är förtjänat, eller genom att omvandla köpet till ytterligare erfarenhet/lärdom.

Användandet av sociala medier, som från början handlade om utbyte av information, har mynnat ut i en social närvaro. En social närvaro där man genom bilder, text och videos presenterar sig själv. Konsumenter kan numera obehindrat dela varumärkesrelaterat innehåll genom att till exempel visa nya inköp eller andra händelser av sitt liv. Idag skapar konsumenter många av sina associationer och uppfattningar om varumärken genom detta innehåll av privatpersoner på sociala medier. Det skapar en möjlighet för lyxvarumärkena att bli top-of-mind hos konsumenterna. Samtidigt blir det svårt för lyxvarumärken att kontrollera privatpersoners innehåll. Varumärken inom lyxsegmentet måste dessutom förvalta sitt arv och sin exklusivitet för att bibehålla sitt starka varumärke. Denna balansgång belyser lyxens paradox. Syftet med denna studie är att få fram eventuella effekter när lyxvarumärken inom modebranschen exponeras, både ofrivilligt och frivilligt, på sociala medier. Forskarna undersöker från ett konsumentperspektiv i syfte att ta reda på hur konsumenternas varumärkesimage och köplust ändras när lyxvarumärken exponeras på detta sätt. Detta har forskarna undersökt med hjälp av en kvalitativ studie i form av semi-strukturerade intervjuer. Respondenterna valdes ut baserat på deras intresse för mode och att de själva har konsumerat lyxprodukter inom mode. Denna studie visar att ett lyxvarumärkens image förändras när lyxvarumärken exponeras på sociala medier. Om det är en positiv eller negativt förändring är kopplat till de associationer och personer som konsumenterna kopplar varumärket till. Om konsumenterna kopplar varumärkesimagen till en person eller grupp som de vill identifiera sig med ökar deras köplust. Om de istället associerar varumärket till en grupp eller personer som de inte vill identifiera sig med, minskar istället deras köplust. Konsumenters köplust minskar dessutom när produkter, genom exponering på sociala medier upplevs mer tillgängliga och exklusiviteten i varumärket tynar bort. / The use of social media, which from the beginning was about exchange of information, has now resulted in a social presence. A social presence where you present yourself through pictures, text and videos. Consumers can now freely share brand-related content by, for example, showing new purchases or other events of their lives. Today, consumers create a lot of their associations and perceptions about brands through this content from individuals on social media. It creates an opportunity for luxury brands to become top-of-mind amongst consumers. At the same time, it becomes difficult for luxury brands to control this content from individuals. Brands in the luxury segment need to manage their heritage and exclusivity in order to maintain their strong brand. This balancing act sheds light on the paradox of luxury. The purpose of this study is to examine the effects when luxury brands in the fashion industry are exposed on social media. The researchers examine from a consumer perspective in order to find out how consumers' brand image and desire to purchase change when luxury brands are exposed in this way. The researchers investigated this with the help of a qualitative study in the form of semi-structured interviews. The respondents were selected because of their interest in fashion and that they have consumed luxury products in fashion. This study shows that consumers' brand image changes when luxury brands are exposed on social media. Whether it is a positive or negative change it is linked to the associations and persons which consumers link the brand to. If consumers associate the brand image with a person or a group that they want to be identified with, their desire to buy increases. If they instead associate the brand with a group or people they do not want to be identified with, their purchase desire decreases. Additionally, consumers' purchase desire decreases when products, through exposure on social media, are perceived as more accessible and the exclusivity in the brand fades away.

This case study examines how luxury fashion brands communicate their sustainability practices on the brands' sustainability page on the company's website and whether selected luxury fashion brands are greenwashing and bluewashing. The luxury brands selected for this study are Stella McCartney and Gucci, on the grounds that both brands have different types of businesses and approaches. To understand the context, this study uses the triple bottom line sustainability concept by Elkinton (1998), sustainable luxury fashion brands (Godart & Seong ,2017; Wiedmann et al., 2009; Joey et al.,2012; and Franco et al. 2019), greenwashing concept by Delmas & Burbano (2011) and bluewashing concept (Sailer et al., 2022). To conduct the analysis, this study uses textual, eco-lexicon categorization developed by Thomas (2008) and the categorization from Milanesi et al. (2022) is adapted for visual analysis and the sins of greenwashing by Terra Choice (2010) to see the potential of greenwashing. The results shows that Stella McCartney and Gucci sustainable communication serves as their marketing strategy which encourage purchase and therefore it is problematic. Both brands use vague, ambiguous words, terms, and certifications and lack of transparency. While the images are not yet seen as a potential tool to communicate sustainability initiatives. Even though the brands are known as sustainable fashion brands, the result demonstrates brands show irrelevancies and paradoxes between what the brands communicate and their actual practices ; therefore show potential greenwashing and bluewashing.

Brand personality is a set of human personality traits that are relevant to a brand. A distinctive brand personality serves a symbolic or self-expressive function and helps to create a set of unique and favourable associations in the consumer’s mind. Generation Y consumers are considerably more brand and image conscious than any other generational cohort. Given that motor vehicles, especially luxury motor vehicles, are a conspicuous consumption item that are often used to signal status to others, luxury motor vehicle marketers need to understand Generation Y members’ perceptions of brand personality. Aaker (1997) developed a brand personality trait scale to measure brand personality perceptions. This study established a factor structure for Aaker’s (1997) brand personality trait scale applicable for luxury sedan brands. This adapted brand personality trait scale was used to investigate the brand personality perceptions of luxury sedan motor vehicles amongst Generation Y. The target population for this study was defined as students registered at South Africa’s public HEIs in 2014. This study made use of a non-probability convenience sample to select one traditional university campus and one university of technology campus located in the Gauteng province of South Africa. Self-administered questionnaires were distributed in two separate steps. Step 1 of the study distributed the questionnaire to 65 participants to identify Generation Y students’ top-of-the-mind awareness concerning luxury sedan motor vehicle brands. Step 2 of the study distributed 500 questionnaires to investigate the brand personality perceptions of luxury sedan brands amongst Generation Y students by means of Aaker’s (1997) brand personality trait scale. Step 2 also investigated Generation Y students’ purchasing intentions of luxury sedan motor vehicles by making use of an adapted a scale by Zeithaml et al. (1996:31-46). The statistical analysis included exploratory factor analysis, descriptive statistical analysis and significance tests. The findings of the study suggest that Generation Y students’ top three luxury sedan brands are BMW, Mercedes-Benz and Audi. The brand personality perception results revealed that all three brands are associated with the ‘Competence’ and ‘Sophisticated’ brand personality dimensions. In addition, BMW is also associated with the ‘Excitement’ brand personality dimension. The findings of the study also suggest that Generation Y students do have purchasing intentions of luxury sedan motor vehicles. Some gender differences regarding Generation Y students’ brand personality perceptions and purchasing intentions of luxury sedan motor vehicles do exist. However, the differences are limited with a small effect of practical significance. The study offers insight into the brand personality perceptions in the South African market. Generation Y consumers have unique perceptions regarding different brands and it is therefore important to gain insight regarding their perceptions. The results presented in this study can aid the marketers of the selected luxury sedan motor vehicle brands in identifying the personality traits associated with their brand. This information can be compared with their current marketing strategy to determine if any differences exist between the desired and perceived brand personality. This can also help the marketers to tailor the marketing strategy accordingly to achieve the desired brand personality / MCom (Marketing Management)--North-West University, Vaal Triangle Campus, 2015

Brand personality is a set of human personality traits that are relevant to a brand. A distinctive brand personality serves a symbolic or self-expressive function and helps to create a set of unique and favourable associations in the consumer’s mind. Generation Y consumers are considerably more brand and image conscious than any other generational cohort. Given that motor vehicles, especially luxury motor vehicles, are a conspicuous consumption item that are often used to signal status to others, luxury motor vehicle marketers need to understand Generation Y members’ perceptions of brand personality. Aaker (1997) developed a brand personality trait scale to measure brand personality perceptions. This study established a factor structure for Aaker’s (1997) brand personality trait scale applicable for luxury sedan brands. This adapted brand personality trait scale was used to investigate the brand personality perceptions of luxury sedan motor vehicles amongst Generation Y. The target population for this study was defined as students registered at South Africa’s public HEIs in 2014. This study made use of a non-probability convenience sample to select one traditional university campus and one university of technology campus located in the Gauteng province of South Africa. Self-administered questionnaires were distributed in two separate steps. Step 1 of the study distributed the questionnaire to 65 participants to identify Generation Y students’ top-of-the-mind awareness concerning luxury sedan motor vehicle brands. Step 2 of the study distributed 500 questionnaires to investigate the brand personality perceptions of luxury sedan brands amongst Generation Y students by means of Aaker’s (1997) brand personality trait scale. Step 2 also investigated Generation Y students’ purchasing intentions of luxury sedan motor vehicles by making use of an adapted a scale by Zeithaml et al. (1996:31-46). The statistical analysis included exploratory factor analysis, descriptive statistical analysis and significance tests. The findings of the study suggest that Generation Y students’ top three luxury sedan brands are BMW, Mercedes-Benz and Audi. The brand personality perception results revealed that all three brands are associated with the ‘Competence’ and ‘Sophisticated’ brand personality dimensions. In addition, BMW is also associated with the ‘Excitement’ brand personality dimension. The findings of the study also suggest that Generation Y students do have purchasing intentions of luxury sedan motor vehicles. Some gender differences regarding Generation Y students’ brand personality perceptions and purchasing intentions of luxury sedan motor vehicles do exist. However, the differences are limited with a small effect of practical significance. The study offers insight into the brand personality perceptions in the South African market. Generation Y consumers have unique perceptions regarding different brands and it is therefore important to gain insight regarding their perceptions. The results presented in this study can aid the marketers of the selected luxury sedan motor vehicle brands in identifying the personality traits associated with their brand. This information can be compared with their current marketing strategy to determine if any differences exist between the desired and perceived brand personality. This can also help the marketers to tailor the marketing strategy accordingly to achieve the desired brand personality / MCom (Marketing Management)--North-West University, Vaal Triangle Campus, 2015

Despite the recent recession, the economic growth of recent decades has created a group of so-called ‘Global-Elites’ (CeMoRe, 2010). Small in number, but high in net worth and influence they are influential in the creation of, and desire for consumption, often portrayed as luxury, privilege, prestige, and 'class'. The tourism industry has also benefited from growth, with demand predicted to double by the year 2020, reaching an estimated $14.95 billion (World Tourism & Travel Council, 2010). Much of this growth has been at the top end, as Keissling et. al. (2009) note an unprecedented rise in demand for the luxury hotel sector over the past decade. The global elite’s leisure consumption practices require considerable research attention, and yet research into luxury services, such as hotels and associated hospitality services, is greatly undeveloped. Atwal and Williams (2008) note the ability of consumption as a means for consumers to make statements about themselves, and nowhere is this more true than in the world of the Global-Elite, who seemingly having no desire to curb current travel activities (Elliott & Urry, 2009). This may be due to the uncertainty that is felt about future travel opportunities, with environmental decline of natural and heritage attractions paralleled by numerous threats to travel such as peak oil and political instability. However, in recent years, there has been increased interest in the study of ethical consumption in the tourism arena (e.g. Novelli, 2005; Sharpley, 2006; Lansing & Vries, 2006; Yeoman et. al., 2006). Although there appears to be incompatibility between the concepts of luxury and concerns around ethical consumption and sustainability, this research posits that while current transitions (around travel and tourism) continue towards further unsustainability (Cohen, 2010), ethical consumption may provide an avenue for social distinction and status differentiation in the world of the Global-Elites. In order to adequately understand the behavioural intentions of the Global-Elites, the synergy between consumer values, luxury dimensions and ethical consumption needs to be explored. This research examines the influence of consumer values, as a more universal measure of intent, in relation to ethical consumption in luxury hotels. This research argues that by reducing the uncertainty related to the degree to which consumers (Global-Elites) value ethical consumption, deeper insights into these apparently incompatible spaces and places for ethical consumption will be obtained. Furthermore, luxury hotels will be able to assess the suitability of marketing and communicating such strategies to their customers.

The goal of this research was to determine which population factors were associated with iPad pricing differences across countries. Specifically, this paper measured the relationship between iPad prices in a given country and its U.S. dollar exchange rate, amount of income inequality, Gross Domestic Product per capita, luxury good sales growth, Individualism Index score, and population density. Panel data was collected for the iPad 2, the iPad Retina, and the iPad Mini tablets from 38 countries of varying geographic locations, economic paradigms, and political structures. The pooled data set yielded 114 observations in total. Regressing iPad price as a percent of national average income revealed a positive relationship between price and status consciousness as well as cultural individualism. There existed a negative relationship between iPad price and luxury sales growth. These results indicated that the iPad served as a status symbol with higher demand in countries that promoted individualism and exhibited higher degrees of income inequality.

From 1997 to 1999 and 2003 to the present, Major League Baseball has had a luxury tax on high payroll teams. This paper analyzes the impact of the tax as a budget constraint on teams’ ability to reward and retain high performing players. In contrast to other papers, we use wins above replacement (WAR), a popular sabermetrics statistic, to measure performance. Using this metric, we quantify the number of top performers, how this performance is rewarded with salary, and how salary impacts players’ mobility decisions. We conclude that when using WAR, the distribution of performance is not heavy tailed and rather follows an exponential distribution. Our results suggest that there are fewer top performers in periods with a luxury tax/budget constraint. We use efficiency wage theory to understand this decrease in top performers as the result of a decrease in motivators. We understand two different mechanisms of motivating performance: (1) under a stochastic budget constraint, managers did not choose to extend the contracts of top players; and (2) under a fixed budget constraint, managers decreased the monetary reward for an increase in performance. Both these mechanisms decrease the motivation for top talent to perform highly.

The market for luxury brands has outpaced other consumption categories through its growth, and has been found in continuous development. As there is an increasing amount of luxury categories, the consumption of luxury fashion brands account for the largest proportion of luxury profits, and the marketing costs for such brands has shown to surpass those of other fashion categories. Consumer researchers have throughout decades emphasized how individuals participate in consumption behavior to form their self-concept in relation to brands. However, previous research has disregarded the multidimensional perspective regarding the theory of self-concept when examining the consumption of brands. Hence, the current research paper aims to strengthen the existing self-concept theory by exploring the role in which luxury fashion brands have by focusing on how the consumption of such brands relate, and contribute, to the consumer’s self-concept. By applying a qualitative method to investigate such purpose, and involving the existing theory of self-concept, brand image, and brand personality, it appeared that luxury fashion brands has a function to operate as a confidence booster for young consumers’ perception of their self-concept. In terms of the theoretical contribution of this paper, this research further illustrates how the theoretical explanation of brand image and brand personality relates to two different dimensions of the consumer’s self-concept. The consumption of luxury fashion brands has shown a significant role in individuals’ consumption behavior by emphasizing a striving, and motivating, part in the self-concept of young consumers.

This study proposes a series of 3 experiments to explore how different types of staging, pictures versus virtual reality, impacts potential buyers’ likelihood of wanting to visit a home. Moreover, this study seeks to address how the type of market, hot versus cold, and type of home, luxury versus non-luxury, connects with staging and its impact on wanting to visit a home. In Experiment 1, participants will view 10 total homes, 5 randomly selected with staged pictures first followed by the remaining 5 with virtual reality, either within the hot or cold market. If VR increases presence, then people should be more likely to want to visit a house especially in a hot market given that there is a high demand for a constrained supply. Experiment 2 addressed the contrast effect limitation given that virtual reality staging always came after the pictures of staging within Experiment 1. Experiment 2 should replicate the results of Experiment 1 by removing the contrast effect. Finally, Experiment 3 will explore the impact of type of home, luxury versus non-luxury, and type of staging on wanting to visit a home. Researchers are expected to find that participants who viewed properties in virtual reality are more likely to want to visit the home compared to those that saw staged images because of increased presence, which will make them feel more connected to the home compared to viewing staged pictures. Ultimately, this study is important because it aims to identify the utility of VR in home sales.