Abstract:
In a society that places great importance on appearances, conspicuous consumption is becoming widespread. Consumers are increasingly opting for costly purchases to demonstrate their wealth and social status, highlighting the significance of material possession in contemporary times.
The consumption of luxury goods is evolving into a more complex practice, with consumers embracing additional roles beyond simple buyers and users. They are increasingly transitioning into sellers of luxury branded products.
This thesis aims to analyse the changing landscape of second-hand luxury and its influence on the primary luxury market, questioning whether this sector presents an opportunity for established luxury brands or newcomers. The research will focus on the significance and values attributed to this phenomenon, as well as understanding the motivations and preferences driving consumers towards second-hand luxury products. Important factors to be discusses include cost-effectiveness, environmental consciousness, and the appeal of scarcity and distinctiveness. Additionally, the study will investigate how advancements in technology and the rise of online platforms have made previously owned luxury items more accessible, reshaping consumer interactions with this evolving market.
Lastly, this research will be supported by a real-world case study, specifically focusing on "Siopaella Designer Exchange," a company located in Dublin. My one-month internship at this place served as a launching pad into this sector providing first-hand insights into its operational dynamics, the motivations behind its inception, customer perceptions, and whether the practice is more common in foreign countries than in our own. In particular, the valuable connections I established with the owners and within this innovative store will greatly contribute in conducting an in-depth analysis of this reality.
