What's Behind the Luxury Mindset? | I?ve been writing this week about changes in the luxurymarket and so I was interested in thispiece on a
Wired blog which tries to scientifically examine people?sattachments to luxury goods.To summarize the post in short: Scientists did an
experimentwhere they told children they had a ?duplicating machine.? They gave childrenthe option of having a ?duplicate? of their favorite blanket or
stuffed animal.Not surprisingly most of the kids were pretty creeped out by this and preferred the original. Thisaccording to the Wired blogger
demonstrates: ?There are many blankets in theworld. But there is only one blankie. The best brands are blankies.?Now
chopard replica watches vacheron constantin extra plates watches I agree with most commenters to this article that thereisn?t much of an analogy here. There are many
differences between a child?s sentimentalattachment to a blanket and an adult?s desire for a watch. Consumers also don?tbuy fakes because they are
varying quality (which we?ll talk about in a sec) and lest we forget illegal. But I think the commenters to this article do get intoan interesting
discussion about the ?luxury? mentality.As many note there are logical reasons people buy premiumbrands:Rolex rose to the top-value spot inits market
due to its ability to make a watch that lasts and keeps perfecttime. Perhaps better materials workmanship a guarantee. So when people buythe watch ?
even though they cannot look into the future and see how thisexact new piece will perform ? they have a belief based on the company?s pastperformance
that it will be essentially timeless permanent. ? When we buy a product that will last weintend to bond with it (as one bonds with a blankie) and
have it accompany and helpus through many moments in life.Another notes: I wore a Rolex for 39 years. Sofar
replica seiko dress gold-tone on a cost per year basis it is the cheapest watch I have ever owned. Itcost $168.00 new. Bulovas at the time were
around $50 and lasted 2 or 3 yearson my wrist. But obviously if people just wanted somethingwell-made they wouldn?t sell watches studded with
diamonds. In addition most people today carrytwo or three time-telling devices (phones etc.) with them; a watch isn?t really necessaryanymore. So
there is clearly something more going on as one particularlysmart commenter notes:The things we own reflect ouridentity because they reflect our
choices simply from being owned and chosen byus the more expensive the more exclusive the ?better? the things are thebetter the person who owns
them becomes ? at least that?s what people wouldlike to believe ?In other words these brands fill an emotional need. Which may be why luxury items
fell so dramatically duringthis recession. Once the media started discussing ?luxuryshame ? all of a sudden certain over-the-top purchases became not
a sign ofexclusivity but of garishness and insensitivity. While the latest American Express survey of affulent buyers found that "luxury shame" has
recededa bit what consumers do want today consultants say are ?reasons? to buythings. (And these are often ?rationalizations? to buy things one
noted because whenyou get right down to it buying big-ticket items will never be completelylogical.) Two of the experts I spoke to independently
praised Patek Philippe?sad campaign
paypal replica watches which shows a father and son with the tagline: "You never actually own a Patek Philippe. You merely look afterit for the
next generation.? This not only appeals to the rational brain (?thiswill last?) but also hits emotional notes associated with family. (The
campaignuses real fathers and sons.)Which brings me to my final point. Consumers today are morequestioning; they want to know why things cost so much.
A while ago someone onFacebook posted a video of a piece of jewelry being made. It attracted comments about how consumersdon?t really know all the
craftsmanship involved in fine jewel-making.That is true
replica blancpain watches but as industry we shouldn?t be happy aboutthat. Fine jewelry is expensive not just because it uses pricey materials
but becauseassembling a really nice piece can take a lot of skill and hard work. But most consumers don?t know this. And yet this is a selling point
that like the Patek Phillipe ad speaks to both the rationalmind (?this is durable?) and the emotional one (?this is special.?) And it?s
probablysomething we should look at more closely.