The psychology of luxury is an interesting phenomenon. Psychiatrists and psychologists have been studying it for years. One thing we know from all their research is that leveraging it to drive sales is all about making an emotional connection. Here is the dirty little secret: you can make that connection whether your designer sunglasses cost $50 or $500.
How People Feel About Luxury
Understanding the basics of the psychology of luxury really boils down to understanding how people feel about luxury items. It is rooted in an emotional experience for most people, due to the fact that purchasing a luxury item can trigger the release of that feel-good hormone known as dopamine.
We have all experienced it from time to time. When we finally get our hands on something we have wanted to buy for a long time, it feels good. Most of us tend to experience those good feelings when purchasing something we consider luxurious.
In addition to the positive emotions, luxury purchases can also boost a person's self-esteem. A luxury purchase is often linked to higher quality, better craftsmanship, and even social elevation. All these things contribute to an increased level of self-satisfaction.
Belonging to an Exclusive Club
Let us not forget that luxury is often associated with exclusivity. In other words, people who can afford luxury goods feel as though they belong to an exclusive club. Such feelings are not without merit. Not everybody can afford to drop several hundred, or even thousand, dollars on a pair of designer sunglasses.
The sense of exclusivity a person experiences with luxury purchases can be enhanced by the status of their particular brand choice. Certain brands garner more respect than others. Specifically in regard to sunglasses, choosing the right brand can even heighten one's sense of exclusivity.
The Relationship to Cheap Sunglasses
At this point, you might be puzzled as to what any of this has to do with cheap sunglasses. Step back and think long and hard about your greatest advantage as a retailer: being able to offer designer sunglasses at a drastically discounted price. Use that advantage to drive sales.
We already know that the psychology of luxury is intrinsically tied to an emotional connection, a boost in self-esteem, and feelings of exclusivity and status. You can replicate the experience if you know how to market to your customer base.
For example, you can market cheap designer sunglasses as being perfect for an exclusive group of customers who know the inside secret to getting high quality eyewear without spending a small fortune. Market the idea that not everybody understands the reality that the only difference with high-end brands is the name.
Market the quality of the bulk sunglasses you purchase from us. Compare their quality to high-end brands. Your goal is to use marketing to invite customers to join that exclusive club that knows how to find value at a more affordable price.
The psychology of luxury is very real. But guess what? Luxury has little to do with price. It is perception. You can foster that perception with creative marketing that takes advantage of the fact that your sunglasses are cheaper than high-end brands, but still competitive in terms of quality.
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