Does luxury have a minimum price? An exploratory study into consumers' psychology of luxury prices

Abstract : Consumer studies show that luxury evokes high prices. However, the remarkable growth of this sector is based on its extension to the middle class, with affordable prices. This is a paradox: luxury needs to be expensive, yet grew being accessible. Hence the question: If consumers want to access to luxury, below what price would they consider that it is no more luxury? Is there a minimum price? This research explores how consumers decode luxury prices, how are lower prices compatible with luxury. Strong brands have indeed a larger latitude for accessible pricing than new luxury brands.