Luxury as a Solace
Luxury as a Solace

Author(s): Julia M. Puaschunder
Subject(s): Business Economy / Management, Behaviorism
Published by: Scientia Moralitas Research Institute
Keywords: Behavioral Therapy; Crisis; Despair; Exchange; Innovation; Luxury; Marketing; Solace; Online Social Media Platforms; Reactive Acceptance; Reactive Activism;
Summary/Abstract: The history of crises tells a story about luxury consumption being sparked in the eye of adversities. Already in the aftermath of the 14th-century Great Plague, luxury consumption triggered the Renaissance in Europe. In the post-COVID-19 world, economic data underlines the drive toward luxury during stressful periods. This article analyzes the underlying reasons for luxury consumption during personal and economic crises, the specific goods prevalent to be consumed in order to cope with stress, as well as the marketing and societal implications of luxury as a solace. Based on reactive acceptance ideas, finding refuge in the finer details of life can alleviate emotional burdens and/or create a sense of calm. Goods consumed during emotional stress include high-indulgence items that offer emotional connections and a self-care potential, as well as escapism opportunities through economic productivity. The display of luxury goods through jewelry, décor, fragrances but also experiences shared online are luxury moments that may help when life gets tough by granting a confidence boost. Emotional and sensory benefits that can be derived from indulging in high-quality items and experiences are therefore defined as ‘luxury as a solace’ consumption goods. When luxurious items or experiences are consumed to find comfort, peace, or a sense of well-being—particularly during times of stress or difficulty—revenue can be generated for the individual, the economy, and the state, which can then be reallocated for societal welfare betterment.

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