How Will the "Look at Me" Effect Survive?

9:03 AM

This morning I read an article in the Harvard Business Review about luxury branding. In the article, Giana Eckhardt, professor of marketing at the University of London, discussed inconspicuous consumption. Super rich and wealthy consumers are now shopping for luxury goods without the flashy logos splattered all over the item.

According to Eckhardt's research, the consumers in China have begun to make fun of "overt wealth" and have started to remove the labels off their clothes. I remember reading something very similar to this on yahoo news about Chinese consumers no longer purchasing Louis Vuitton and Gucci because it has become so accessible to lower classes in their society.

Jonah Berger, associate professor of marketing with Wharton at the University of Pennsylvania, states "If most of the buyers are mereley thousandaires, rather than millionaires, the product becomes a signal of the wannabe rich."

Many companies are worried because they bank on consumers buying products that show others that they can "afford" these things. Even though, you know just like I know,  that the majority of consumers that purchase these things dont even have a savings account so I use that work afford loosely.

Luxury brands are starting to downplay the logos, making them smaller and in some cases even hiding them. I'm  beginning to wonder if the middle and lower class consumers will continue to purchase these luxury brands if no one can tell who makes it. This should be very interesting in this age of "Look at Me".

How will these consumer's survive if there are no more visible logos?

How will they let others know that they are, in fact, wearing Gucci, Louis, Prada and they do, for sure, shop at Saks?
  Look at my shoes! Look at my bag! Look at my belt! Look at my sunglasses! Look at ME!

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