Why Do People Buy Luxury Bags: Psychology Behind Chic

Stylish clothes and shoes are not everything to create the perfect look. Properly selected accessories enhance the impression, emphasize the seemingly inconspicuous details of the outfit. A handbag is, without a doubt, the main accessory of a woman, and a luxury handbag is her ultimate dream. But why do people choose expensive purses over their more affordable counterparts? Let's understand the psychology behind chic. 

What Are Luxury Bag Brands?

The concept of luxury is very subjective. But, just to be clear, in this article we are talking about high-end brands that manufacture purses of high quality that last a long time and even increase in value over time. Here is the list (of course, not expensive) of the most popular luxury bags. 

Best Designer Bag Brands

Before we move on to the discussion of luxury bags, we need to first be on the same page as to what bags are luxury handbags.

According to Luxury Group marketing research, a lot of potential buyers strongly associate high-end handbags with quality.

The word "luxury" is often used as a marketing term to describe a product that is expensive or has an air of opulence. Luxury goods are typically purchased by the wealthy, although in recent times luxury brands have increasingly been expanding their markets to middle and low-income groups in countries such as China and the United States.

There are many brands in fashion that offer high end bags. Louis Vuitton is one of the most famous brands in the world, and also one of the most expensive. The price for a single handbag can reach up to $50,000. A more affordable option would be Dior or Gucci, which only costs around $2,000 per bag on average, however, they're trying to chase such giants of luxury handbag market as Hermes or Chanel. 

Hermes

Hermes bags are considered the most exclusive and elite fashion accessories, as you canèt just walk into a Hermes store and buy a fashion house classic such as a Birkin or a Hermes Kelly bag, you need to order them and there is a waiting list.

Chanel

Is it possible to spend a tidy sum on a stylish and durable accessory? Opt for Chanel. Unfortunately, it is hard to find spacious bags in their collection, because the brand is mainly focused on models for evening/everyday looks.

Louis Vuitton

This French fashion house has been a symbol of prestige and elegance for over two centuries. A bag by this premium brand is a must-have for every luxury lover.

Gucci

A sophisticated handbag from the fashion house Gucci is a dream of every fashionista. Accessories of this brand have a unique charm that is very hard to resist. 

How Much Does a Luxury Bag Cost?

Prices for luxury bags vary greatly - all depends on a model, collection, size, material used, etc. The cost of a fashion accessory by Gucci starts from $350 and can go up to $2,500. As for Chanel, it will be around $1,700-5,000. Bags from Louis Vuitton are also quite expensive starting from $ 1,300. But this does not prevent the brand from making excellent sales around the world. As far as Hermes bags are concerned, the price varies from $3,000 to $12,000.

Interested to see how further up the prices for luxury handbags can go? Check out our Top 20 Most Expensive and Exclusive Designer Handbags in the World. 

Why Are Luxury Bags So Expensive?

Famous brands like to talk about their history and traditions, the best materials, and meticulous craftsmanship. However, this is far from everything that makes up the cost of an accessory from a famous brand. Amounts spent on advertising campaigns, royalties to movie stars, and the modeling business - all this is laid down in the price. In addition to spending on celebrities, fashion brands spend huge amounts on their boutiques, which are located on the most expensive streets.

If you want to learn more about why Louis Vuitton bags are so popular and expensive, read our article. 

5 Psychological Reasons Why People Buy Luxury Items

Why do people buy high-end bags, which are considered luxury? Why are we willing to pay much more for, in general, a product similar in quality and functionality? Here are five psychological reasons.

1. Rivalry

Although it is customary in business literature to attribute rivalry mostly to the male half of the population, this quality is also not alien to women. Our purchases have long gone beyond the need, now they have become a kind of competition. My thing is more expensive, which means I'm better. When people buy expensive stuff, they tend to think that they are more privileged and fortunate than others. 

2. Status

This reason is closely related to the first one. Status is an important part of any society. Every one of us has a social role they should comply with. Coming to a business meeting in a cheap suit is a wrong move, unless, of course, you are in the IT business, where everything is forgiven. So, wealthy people buy expensive goods trying to highlight their status. Purchasing a high-end bag can provide a sense of belonging, gain acceptance of peers, and act as a physical representation of your success in life. 

3. Quality

When buying luxury, we almost always persuade ourselves that we are paying for quality. And that is partly true. Luxury brands care about their reputation and heritage and employ the best craftsmen and use the best materials on the market to manufacture their unique handbags.

However, the quality of a luxury product is sometimes not that much higher than the quality of an ordinary good analog. It is just the consumer's perception. Non-luxury goods are considered inferior that is why consumers concentrate mostly on their drawbacks and ignore their advantages. We just blindly conclude that items with a hefty price tag are of better quality regardless if there is actual proof that they are.  

4. Satisfaction

People tend to spend big sums on luxury goods to boost their mood. We treat ourselves to a designer item as a reward for hard work or, on the contrary, to increase our self-esteem when we feel down. Luxury goods are the ultimate retail therapy and online shops and the Internet, in general, contribute to impulsive shopping. 

When we are talking about satisfaction, it important to point out that here buying authentic is a key. If you treat yourself to a fake Chanel bag, you won't get satisfied, on the contrary, you will feel as if you haven't treated yourself at all. 

5. Uniqueness

We are interested in exclusivity, we want to become special because of the goods we own. If the product on the market is fundamentally new, and at the same time has considerable demand, then it will cost a lot. Demand can be dictated simply by fashion, the desire of a certain number of people to be the first in the community. The more exclusive the product, the higher the demand for it and, consequently, the retail price. Buying chic we remind ourselves how much we value ourselves. 

Keep in mind that there are two sides to every coin. It is not uncommon to feel embarrassed instead of feeling good, satisfied, or more confident after purchasing an expensive luxury item. Especially, among first-time buyers. They are usually afraid of other people's reactions. If you feel the same, please, watch our video on how to handle it. 

Where To Buy Luxury Without Spending Big?

If you want to treat yourself to a luxury and exclusive handbag without spending a lot of money, check out our stock of pre-loved purses! It's also important to keep in mind that whenever you buy a preowned item, you need to find a reliable third-party handbag authentication service that will confirm the authenticity of your beloved designer purse.

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