What makes luxury…luxury? Well, it certainly isn’t the expensive price tag.
Defining luxury might be a rather difficult task, but we believe that the most essential component of a luxury item or experience is the deliberate attention to detail.
Imagine that you just bought two shirts. One shirt was acquired from a popular consumer store, while the other was custom made by a tailor. The shirt you bought from the bespoke tailor might have been 3 times more expensive than the generic store shirt, but the quality is certainly night and day.
The tailor-made product is built with expert craftsmanship and premium materials that will last a lifetime. Additionally, because the item was custom made, there is a component of exclusivity added to it. There is likely no other shirt exactly like yours because it was made specifically for you.
While the previous example is very general, it highlights the most important elements of the luxury experience: deliberate attention to detail and a personalized product or experience.
As described in our earlier example, luxury is about the quality of materials used and great customer service. These are only some of the many perks commonly associated with luxury experiences.
Also, many people who are looking to purchase luxury products likely want to add a custom touch. Personalizing a luxury product or experience (such as a stay in an amazing hotel) is not a problem as many brands actually cater to their customers by customizing their experience or product according to their needs or preferences. The ability to get exactly what one wants is one of the many reasons people are willing to pay top dollar for luxury goods.
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