A luxury item can be described as a product or service associated with a premium price and made from premium quality.

We will try to highlight the value and disadvantages of luxury brands in this post.

Here are some of the major benefits of luxury items;

• Well-detailed and well-tailored items made from premium materials: Over the years, luxury brands have been known to use some of the most expensive and premium materials, and experienced craftsmen to create quality products. Materials are selected with a lot of effort and with great care of the details.

• Higher level of Customer Service. Luxury brands have a unique approach to customer service that is way ahead of regular brands. Luxury brands understand that the affluent people they serve expect the best, so they have perfected customer service. From complimentary drinks, while you shop at their store to fast response customers and service when you shop online, luxury items are designed to give the best customer satisfaction.

• Better Fit: Luxury brands invest in experienced and talented craftsmen to create their products. Most often they are personalised, hand-crafted and tailored.

• Luxury items often gain their appeal from the fact that they are difficult to acquire without a certain amount of affluence and influence (or connections).

Disadvantages of Luxury brands

• High Prices: Luxury brands create items that are mostly overpriced. Many competitors may recreate or create a similar product with similar quality in the mainstream market for half the price or less. Most luxuries, such as accessories, perfumes, and beauty products, might not be worth the price tag. 

• Exclusive and inaccessible: These Inaccessible Luxury products are distributed through a few carefully selected channels. The customers they serve care about heritage, creativity, the fame and prestige of the creators. As an example of inaccessible luxury, we can find brands such as Hermès.

• Some of the luxury items have great reselling value when you buy and take care of them well.