University Honors

Luxury has driven the development of human civilization, but its definition and motivation have greatly evolved over time, as patterns in global consumerism have changed. I researched the change in the definition and usage of the word “luxury” over time to understand how the concept came to be today, focusing on the start of luxury in France and the current luxury fashion industry. Throughout time, it was used as a differentiating factor, but expressed in different ways from colorful shells to designer handbags. Additionally, I have studied the motivators of luxury to grasp why consumers are willing to spend millions of dollars every year on nonessential goods and discovered that consumers are driven by social status, personal desire, and brand status. With the definition and motivators of luxury, it is then important to understand how modern day companies are marketing luxury to consumers to further convince them of the need for high end goods. To do so, I have conducted a case study on the iconic French brand, Hermès, to comprehend how they were able to achieve such high levels of success. Finally, I uncovered some of the societal impacts of luxury in society, including the French Revolution, and how modern overconsumption has influenced the luxury market. Overall, this paper is focused on the evolution of luxury throughout time and the impact it has had and will continue to have on society.