Conspicuous and inconspicuous consumption of luxury goods in a digital world: implications for advertisers

Abstract

this special issue focuses on the very intriguing types of luxury consumption that are shaping industry paradigms and trends, especially given the digital marketing revolution that is impacting the way luxury firms create and implement strategies to engage customers and drive sales. luxury brands communicate style, exclusivity, identity, uniqueness, superior quality, and hedonic value, all of which signal status to extended networks (Shukla and Purani 2012; Pangarkar, Patel, and Kumar 2023). While recent events, such as the CoVid-19 pandemic and the economic recession have impacted economic conditions, as per a Euromonitor international report, the luxury industry continued its impressive growth to reach USd 1.2 trillion in 2022, with a steady growth rate of around 6% (roberts 2022). according to a Kearney (2022), Chinese luxury consumers were at the forefront of this recovery, followed by US and German consumers, which led to many luxury brands such as Kering, lVMH, and Hermès experiencing resurgence after a temporary setback.