Alcone Marketing Group – Consumer Lab

The Consumer Lab is the consumer insights and brand strategy group at Alcone Marketing Group, a consumer activation company.

The Psychology of the $14,000 Handbag

How luxury brands alter shopper’s price perceptions takes front and center in this article in the Wall Street Journal.

When shoppers are confronted with prices they can’t afford, retailers often move the consumers to a different product by the brand to salvage their pride.

~A

Fashion Journal – WSJ.com
What is too much to spend on a suit?

The question weighed on Barry Schwarz as he scanned the racks at Boyds men’s store in Philadelphia, which were laden with $3,000 Brioni suits. “Their prices were just out of the world,” recalls Mr. Schwarz, a professor of psychology at Swarthmore College.

We’ve all been there: A window display or a recommendation lures us
into a store — and we face unexpectedly astronomical price tags. It
seems to happen more often these days as many luxury brands — selling
everything from $14,000 Ralph Lauren handbags to $899 Bugaboo baby
strollers and $6,900 Beefeater barbecue grills — push their top price
points higher than they’ve ever gone before. What’s priced below falls
into that ever-expanding category: “affordable luxury.”

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Filed under: clothing, Consumer, fashion

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