Nudging Luxury Consumers to Contribute to Charity
Many luxury brands have engaged in corporate social responsibility by linking products to a charitable cause. But altruism is at odds with the materialistic motivations to purchase fancy watches or handbags. So how do luxury brands overcome the paradox and get their clients to engage in charitable giving? Find out in this new study by HEC Paris Marketing Professor L. J. Shrum and PhD Sukhyun Kim, and Kiwan Park of Seoul National University.
Why Many Luxury Leaders Prefer not to Use the Word Luxury
Luxury is a three faceted word. It refers first to a concept, very subjective thus always hotly debated. It is also a very lucrative macro-economic sector that has been growing over the last 25 years. Finally, it also designates a very specific strategy, distinct from other strategies such as a fashion strategy, a premium strategy or a masstige strategy. Any company can adopt a luxury strategy even if it does not produce the classical goods or services traditionally associated with the luxury sector. Apple is a typical example.
When is a Vuitton not a Vuitton?
The purchasing of fake luxury goods has increased dramatically in recent years and counterfeiting now functions as a parallel market to the luxury industry itself. But what are the real reasons for the emergence of this shadow market and how big a threat does it pose for luxury brands?
The Luxury Market: A Development Opportunity for the Nomads of the Tibetan Plateau?
Year after year, the economic situation of the nomads of the Tibetan Plateau deteriorates. In response, the Norlha project, which means “providence,” was launched in 2006. It aims to add value to yak wool by creating very high quality products for the luxury market. Anne Michaut reveals how the luxury market can help to provide outlets for handicraft and improve the standard of living of poor populations.
The Brand France, a source of great appeal
Should France abandon manufacturing in favor of becoming a service economy? “Such a policy in key sectors would signal the loss of our sovereignty and would not solve our problems,” warns Jean-Noël Kapferer. His proposal: build a Brand France with strong and distinctive values, capable of catalyzing the sale of high-end products, services, and culture both at home and abroad.