Let’s attempt a working definition for “luxury”.
Luxury is something inconveniently valuable.
Inconveniently because you ‘d have to be willing to give up something important to you.
AND valuable, because you ‘d stand to benefit more than what you had given up.
Listening to vinyl records is luxury because a. you are willing to give up music portability for it, and despite this, b. you stand to benefit even more: the priceless experience of collecting, preserving, and interacting with the closest physical thing to the artist herself.
When corsets first came out, women refused to give them up despite doctors warnings that they might deform the ribs. Corsets was luxury. Because, for those who valued the contemporary norm of beauty, an hourglass shape far outweighed the long-term health risks.
So, even if your business is not a white-glove type of brand, you still need to define what makes your brand “Luxury”. Because, someone always has to give up something for your service, even if it is not large amounts of money. Your important job is making sure what they get in return is worth more to them than what they had to give up.
So, what makes your brand “luxury”?
