Is luxury sufficient to create brand desirability? A cross-cultural analysis of the relationship between luxury and dreams

Pierre Valette-Florence () and Jean-Noel Kapferer
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Pierre Valette-Florence: CERAG - Centre d'études et de recherches appliquées à la gestion - UGA [2016-2019] - Université Grenoble Alpes [2016-2019]
Jean-Noel Kapferer: INSEEC - Institut des hautes études économiques et commerciales | School of Business and Economics

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Abstract: A key feature of the luxury industry is its ability to sell dreams, such that consumers often refer to luxury products as desirable dream objects. This study aims to assess the empirical validity of this proposition. Does luxury actually fuel dreams? Because brands are manifestations of these dreams, this study examines if the dream value of an expansive set of brands relates directly to perceptions of them as luxury brands. More than 3,200 real luxury buyers, from six countries, participated in interviews about 60 luxury brands. The results reveal a strong correlation between luxury perceptions and the dream value of brands, across all countries. Yet, despite being categorised as luxury representatives though, many brands are not endowed with as much dream value as might be expected. Being perceived as a luxury product is not sufficient to evoke dreams and boost brand desirability. This is important for luxury brand management.

Keywords: luxury brands; dreams; brand desirability; cross-cultural study; luxury perceptions; consumer perceptions; dream value; brand management; USA; United States; Japan; Germany; France; China; Brazil (search for similar items in EconPapers)
Date: 2016
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Published in Luxury Research J., 2016, 1 (2), pp.110-127. ⟨10.1504/LRJ.2016.078129⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02014083

DOI: 10.1504/LRJ.2016.078129

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