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Luxury after the crisis: Pro logo or no logo?

Author

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  • Jean-Noël Kapferer

    (HEC Paris - Recherche - Hors Laboratoire - HEC Paris - Ecole des Hautes Etudes Commerciales)

Abstract

The economic recession has hit luxury, as most other sectors. Many luxury brands have reeled by lack of clients and cash. Since then, many experts have predicted that post crisis luxury would be of a totally different kind. It was the end of luxury, as we knew it, the end of bling-bling, of prominent logos and high prices excesses. It is chorused everywhere in the media that this new luxury will be modest, bespoke. It should be the demise of conspicuous consumption. For the author, luxury companies would be very cautious in giving faith to this unanimous and trendy opinion, especially if it is backed by cursory polls where respondents tend to give socially acceptable answers. Based on a deep understanding of the dynamics of luxury and on consumer research worldwide, one thing is sure: conspicuousness is here to stay, of course with differences within the luxury population. The future belongs to companies who understand this need for status and adopt a true luxury strategy, very different from a premium strategy. Those who already did it are the ones, which in fact profitably grew during the crisis.

Suggested Citation

  • Jean-Noël Kapferer, 2010. "Luxury after the crisis: Pro logo or no logo?," Post-Print hal-00781524, HAL.
    • Handle: RePEc:hal:journl:hal-00781524
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    Citations

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    Cited by:

    1. Holmqvist, Jonas & Wirtz, Jochen & Fritze, Martin P., 2020. "Luxury in the digital age: A multi-actor service encounter perspective," Journal of Business Research, Elsevier, vol. 121(C), pages 747-756.
    2. Kapferer, Jean-Noël, 2012. "Abundant rarity: The key to luxury growth," Business Horizons, Elsevier, vol. 55(5), pages 453-462.
    3. Holmqvist, Jonas & Diaz Ruiz, Carlos & Peñaloza, Lisa, 2020. "Moments of luxury: Hedonic escapism as a luxury experience," Journal of Business Research, Elsevier, vol. 116(C), pages 503-513.
    4. Kauppinen-Räisänen, Hannele & Björk, Peter & Lönnström, Alexandra & Jauffret, Marie-Nathalie, 2018. "How consumers' need for uniqueness, self-monitoring, and social identity affect their choices when luxury brands visually shout versus whisper," Journal of Business Research, Elsevier, vol. 84(C), pages 72-81.
    5. Stokburger-Sauer, Nicola E. & Teichmann, Karin, 2013. "Is luxury just a female thing? The role of gender in luxury brand consumption," Journal of Business Research, Elsevier, vol. 66(7), pages 889-896.
    6. Gianluigi Guido & Cesare Amatulli & Alessandro M. Peluso & Clarissa Matteis & Luigi Piper & Giovanni Pino, 2020. "Measuring internalized versus externalized luxury consumption motivations and consumers’ segmentation," Italian Journal of Marketing, Springer, vol. 2020(1), pages 25-47, March.
    7. Susana Costa e Silva & Carla Carvalho Martins, 2017. "The relevance of cause-related marketing to post-purchase guilt alleviation," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 14(4), pages 475-494, December.
    8. Anat Keinan & Ran Kivetz & Oded Netzer, 2016. "The Functional Alibi," Journal of the Association for Consumer Research, University of Chicago Press, vol. 1(4), pages 479-496.
    9. Yue Yuan & Mary E. Deily & Yuliang Yao, 2022. "Willingness to Pay for Status Signals in Online Luxury Markets," Production and Operations Management, Production and Operations Management Society, vol. 31(2), pages 668-680, February.
    10. Janssen, Catherine & Vanhamme, Joëlle & Leblanc, Sina, 2017. "Should luxury brands say it out loud? Brand conspicuousness and consumer perceptions of responsible luxury," Journal of Business Research, Elsevier, vol. 77(C), pages 167-174.
    11. Quach, Sara & Septianto, Felix & Thaichon, Park & Nasution, Reza Ashari, 2022. "The role of art infusion in enhancing pro-environmental luxury brand advertising," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    12. Park, Sehoon & Kim, Chaeyeong & Park, Jane, 2023. "How power distance belief, self-construal, and relationship norms impact conspicuous consumption," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    13. Cesare Amatulli & Matteo De Angelis & Carmela Donato, 2019. "Communicating the luxury dream: The moderating role of brand prominence on the effect of abstract versus concrete language on consumer responses," MERCATI & COMPETITIVIT?, FrancoAngeli Editore, vol. 2019(4), pages 91-108.
    14. Kapferer, Jean-Noël & Valette-Florence, Pierre, 2019. "How self-success drives luxury demand: An integrated model of luxury growth and country comparisons," Journal of Business Research, Elsevier, vol. 102(C), pages 273-287.
    15. Pino, Giovanni & Amatulli, Cesare & Peluso, Alessandro M. & Nataraajan, Rajan & Guido, Gianluigi, 2019. "Brand prominence and social status in luxury consumption: A comparison of emerging and mature markets," Journal of Retailing and Consumer Services, Elsevier, vol. 46(C), pages 163-172.

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    Keywords

    Luxury; crisis; logo;
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