Metaverse and Brand: A Futuristic Approach of Digital Marketing Strategy for Luxury Brand - India's Hidesign

Luxury Brand

Luxury brands are known for their exclusivity, high-quality craftsmanship, and the aura of prestige they bring to consumers. They often employ meticulous attention to detail and the use of premium materials to create products that are not only functional but also symbolize a certain lifestyle or social status (Vigneron & Johnson, 2004). Luxury brand consumers are not only purchasing products; they are buying into a world of elegance and sophistication that these brands represent (Kapferer, 2012). The appeal of luxury brands lies in their ability to evoke emotions and desires beyond the utilitarian nature of their offerings, making them a powerful force in the global consumer market. Generally speaking, luxury is an economic good with a particular socio-political meaning and moral connotation because, in the past, luxury goods were only available to members of the upper classes and royalty. In The Wealth of Nations, Ada M. Smith defined luxury as “goods not belonging to necessity” (Smith, 1998). Luxury goods are, in a narrow sense, the best-quality and rare top-quality items in the same category (Liu et al., 2016). It is important to emphasize that luxury goods nowadays are evolving into the highest level and prestige brands, with a showier concept. In contrast, everyday luxury products place more emphasis on the intangible contextual utility, and the functional utility included in the price is essentially non-existent (Huang, 2018; Zhou, 2015).