July 30, 2010

What makes a pair of Jimmy Choo heel sandals worth $1,150? Or a $17,500 price tag for a night at the Dunton Hot Springs? In essence, what is luxury worth? Everyone perceives products and service value differently. You've likely been in Gucci or Hermes and said, really? A shoe-shaped Gucci key ring is $170. Really? For some, it's worth it. "We see consumers as the ultimate experts on brand prestige and this year they are voting on the entire perceived price/value equation of the brand as well as prestige," said Milton Pedraza, CEO of the Luxury Institute. Brand, quality, rarity all play a role in how we valuate prestige products and experiences. As everyone derives value differently, there are three main criteria that help us decide whether a luxury product or service is worth it:

Original Posting At:   Sparxoo