'THE PSYCHOLOGY(심리) BEHIND WHY PEOPLE BUY LUXURY GOODS'

Why Do We Buy Luxury Brands—and How Do They Make Us Feel?

Here are some reasons.

1. Self-Esteem and Luxury Goods Low self-esteem(자존심)is a big factor in whether a person will buy luxury goods that they may not be able to afford. For consumers trapped in institutionalized (익숙 해진)poverty or those living paycheck to paycheck, a luxury good can go a long way in increasing self-esteem or providing a sense of belonging.

2. A sense of accomplishment is yet another reason why some people buy luxury goods. They want to reward themselves for their hard work by treating themselves to something they typically can't afford.

3. Authenticity(진실성의) Matters There’s a reason why people will pass the fake Rolex sellers on the street to pay full-price for an

authentic one: Despite appearing the same, the owner will know that they don't have a real luxury good.

People buy luxury goods for a variety of reasons, all of which are related to the strong emotions that we attach to expensive material goods. Whether we are financially comfortable or not, we will often purchase luxury items to show off to or gain acceptance from others and to reward ourselves for an accomplishment.