Can Luxury Be Sustainable and Still Create Value for a Sustainable Future?

Aslı Tolunay () and Fulya Midilli Muskara ()
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Aslı Tolunay: Yeditepe University
Fulya Midilli Muskara: Yeditepe University

A chapter in Transition to the Circular Economy Model, 2024, pp 75-94 from Springer

Abstract: Abstract Luxury consumption is typically associated with notions of excessive spending, irrational behavior, and selfindulgence, which are often seen as contradictory to sustainability principles. However, the luxury sector is undergoing significant evolution and growth, driven by the adoption of sustainable practices and the emergence of the circular economy concept within the industry. Despite limited research addressing the perceived mismatch between luxury and sustainability, there is growing recognition of the value derived from the intersection of these two domains, both at individual consumer levels and within broader economic contexts. As an increasing number of consumers opt for sustainable luxury in specific circumstances and endorse circular economy principles, there is a pressing need for further exploration and understanding of this complex relationship. This exploratory study aims to investigate how sustainable luxury is perceived and to shed light on the intersection between luxury and sustainability while providing insight into the current sustainable luxury landscape from the perspective of luxury shoppers in Turkey. To develop an understanding of the topic, the paper builds on research on luxury consumption and extends it by integrating insights from 12 semi-structured interviews with luxury consumers. The findings provide insights for luxury brands to adopt and improve their sustainable management strategies.

Keywords: Luxury; Sustainable luxury; Perceived value; Sustainability; Circular economy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-031-52700-5_7

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DOI: 10.1007/978-3-031-52700-5_7

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