Business enthusiasti... • 1m
“The Pricier, the Better: How the Veblen Effect Drives Luxury Brand Obsession” The Veblen Effect is a psychological phenomenon where demand for a product increases as its price rises—because the high price signals status, not just value. Luxury brands thrive on this. When someone buys a ₹5 lakh watch or ₹1 crore car, they’re not just buying functionality—they’re 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 “value” language—instead, it whispers elegance, legacy, and access. In this world, higher price isn’t a barrier—it’s the attraction. That’s the power of perceived status. From Only Buziness
Passionate about Pos... • 1m
Your consumer isn’t just buying a product. They’re keeping up with the Joneses. 👀📱 The Jones Effect is real—and it's powerful. We don’t just buy things we need. We buy what we see others showing off. We mirror status. We chase relatability. We si
See MoreWill become a inspir... • 2m
“The IKEA Effect: Why We Value What We Build” 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 — and end up lovin
See MoreWill become a inspir... • 1m
“Mine to Keep: How the Endowment Effect Makes You Value What You Try” The Endowment Effect is a psychological bias where people value things more once they own them—even if ownership is brief. Businesses use this to increase attachment and perceived
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“The Pleasure Trap: How Hedonic Escalation Fuels the Climb Up the Luxury Ladder” Hedonic Escalation is the psychological tendency to crave greater pleasure once a high standard has been experienced. In luxury, it’s a key driver of repeat, upward-spi
See MoreAvid Blogger and Con... • 3m
Why Luxury Jewelry is an Everlasting Market? The luxury jewelry industry isn’t just about aesthetics—it’s a $300B+ market driven by legacy, craftsmanship, and investment value. Unlike fast-moving consumer goods, high-end pieces appreciate over time,
See MoreFounder & CEO at Bui... • 10m
How Audemars Piguet become the status symbol even among the richest. This is because the brand’s 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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