Consumers view luxury as synonymous with quality and service. They seek out beautifully crafted products, exclusive travel experiences, and meals featuring rare ingredients as indicators of luxury. Beyond functionality and enjoyment, luxury also serves as a social status symbol, providing a sense of belonging and exclusivity.Consumers view luxury as synonymous with quality and service. They seek out beautifully crafted products, exclusive travel experiences, and meals featuring rare ingredients as indicators of luxury. Beyond functionality and enjoyment, luxury also serves as a social status symbol, providing a sense of belonging and exclusivity. To delve deeper into consumer perceptions of luxury, a survey was conducted among 2,203 U.S. adults. The survey explored their opinions on the pricing of luxury experiences, the defining characteristics of “luxury,” and their attitudes towards key industries such as retail, food, and travel.
For the consumer, luxury equals quality and service.
Purchasing beautifully crafted products, first-class travel experiences, and meals with rare ingredients are all considered luxurious in the eyes of consumers. Beyond the functionality of a product or the enjoyment of the experience, luxury also involves signifiers that connote social status and make people feel part of an in-group by sharing exclusive airs or insider knowledge.
To better understand consumers’ habits around luxury products and experiences, we surveyed 2,203 U.S. adults about whether they think luxury experiences should cost more, what attributes they think constitute “luxury,” and looked at attitudes toward key industries such as retail, food, and travel.
