Many consumers find it more difficult to justify buying frivolous, hedonic purchases — in other words, purchases from fine chocolates and DVDs to vacations that are motivated by fun and are often frivolous or luxurious — than to spend money on utilitarian purchases, such as food or gas. New research from Columbia University and Tsinghua […]
Read More… from Why Promotions Work Better for Luxury and Hedonic Purchases
Marketing luxury products requires connecting with consumers’ often emotion-driven desires, aspirations, and/or fantasies. However, many consumers cannot put aside their ‘rational’ mindset, and as a result feel guilty when purchasing purely hedonistic products. How can luxury companies appeal to the pleasure-seeker in their consumers while reducing the guilt from such pleasure-seeking? The answer, according to […]
Read More… from How Practical Features Sell Luxury Products