SOC100H1 Lecture Notes - Lecture 2: Kula Ring, Marcel Mauss, Personal Luxury Car
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SOC100H1 Full Course Notes
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Document Summary
Canadian society is very indebted, the most debt of g7 countries. In the us, a lot of this debt is due to luxury spending ( no canadian data is available) Luxury is often a way for consumers to signal that they"ve made it . Many upscale brands are no longer exclusive to the very wealthy. Management consulting firm bain and co. estimates that spending on personal luxury goods in the us rose a steady 5% last year tto about billion. Four in ten americans are aspirational luxury consumers. Aspirational consumers value luxury products, but they havnt tradtionally been luxury consumers themselves. A luxury purchase feels like an indulgance and a reward for aspirational consumers. And how and why does it promote luxury spending. Culture is a filter through which we view and understand the world. Generally, people learn a culture through socialization, then enact it in their everyday behaviour.
