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โThe Pricier, the Better: How the Veblen Effect Drives Luxury Brand Obsessionโ The Veblen Effect is a psychological phenomenon where demand for a product increases as its price risesโbecause the high price signals status, not just value. Luxury brands thrive on this. When someone buys a โน5 lakh watch or โน1 crore car, theyโre not just buying functionalityโtheyโre buying prestige. The product becomes a symbol of identity and social proof. Scarcity, exclusivity, and limited editions amplify this effect. Even advertising for luxury avoids discounts or โvalueโ languageโinstead, it whispers elegance, legacy, and access. In this world, higher price isnโt a barrierโitโs the attraction. Thatโs the power of perceived status. From Only Buziness
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"Merc-ed Up! Luxury Gets Pricier as Mercedes Takes a Forex-Fueled Detour in India" Well, buckle up, luxury car loversโbecause your Merc dreams in India just got a pricier twist! Thanks to forex swings and global drama, Mercedes-Benz is turning the p
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Your consumer isnโt just buying a product. Theyโre keeping up with the Joneses. ๐๐ฑ The Jones Effect is realโand it's powerful. We donโt just buy things we need. We buy what we see others showing off. We mirror status. We chase relatability. We si
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โThe IKEA Effect: Why We Value What We Buildโ The IKEA Effect is a psychological phenomenon where people place higher value on products they partially create themselves. The name comes from IKEA, where customers assemble furniture โ and end up lovin
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โMine to Keep: How the Endowment Effect Makes You Value What You Tryโ The Endowment Effect is a psychological bias where people value things more once they own themโeven if ownership is brief. Businesses use this to increase attachment and perceived
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โThe Pleasure Trap: How Hedonic Escalation Fuels the Climb Up the Luxury Ladderโ Hedonic Escalation is the psychological tendency to crave greater pleasure once a high standard has been experienced. In luxury, itโs a key driver of repeat, upward-spi
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Why Luxury Jewelry is an Everlasting Market? The luxury jewelry industry isnโt just about aestheticsโitโs a $300B+ market driven by legacy, craftsmanship, and investment value. Unlike fast-moving consumer goods, high-end pieces appreciate over time,
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How Audemars Piguet become the status symbol even among the richest. This is because the brandโs watches are so expensive that the last year they only sold 51,000 pieces as compared to other luxury watch brands. But still their revenue was $2.7 Bi
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