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  • 08.12.09

Trends in Luxury: Scarcity

Limited supply has been a guiding principle for economic growth since the dawn of trade. Today, with the ability to mass-produce products and maximize services, consumers are increasingly interfacing with and using products from machines.

Definition
Limited supply has been a guiding principle
for economic growth since the dawn of trade. Today, with the ability to
mass-produce products and maximize services, consumers are increasingly
interfacing with and using products from machines. In this world of
overcapacity, scarcity is increasing in value. The human touch has been
removed from direct contact with many products and services. Think of
the endless menus in voice messaging services or the cheap t-shirt that
fades and tatters in the matter of weeks. Prized items of quality are
those made with care and attention from skilled artisans and craftsman,
uniquely measured to the individual and limited in production. These
elements are paramount to the scarcity trend and for the purveyors of
luxury products and services.

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Human Touch—In a world dominated by machines
and technology, handcrafted items are a limited resource. Quality and
attention to detail are fundamental in handcrafted luxury items.
Custom Made—While
we enjoy the comfort of groups and similarities, tailored products /
services are a highly desirable. Custom made items speak to our
individuality and the unique qualities that makes us special and
one-of-a-kind.
Limited Quantities—Opposite of
“mass-clusivity,” the limited edition is about coveted objects for a
special few to cherish. Just as there are only so many Picassos and
Parisian artifacts, so too can luxury companies create a limited
product line.

Examples
“Paris Icons”—Faced with only a 30% chance
to live after surgical complications, Leslie Little, an Omaha native
and international consultant, ventured to Paris, France for one last
tour. During her trip she was inspired to create a book that captured
the essence of a city she had fallen in love with. She went on to
publish a handcrafted book that harmoniously marries…

To read more about the scarcity luxury trend, go to Sparxoo, a digital marketing, branding, business development blog.

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