Academy of Marketing Science Review As luxury is a subjective and multidimensional construct, a definition of the luxury concept should follow an integrative understanding. For our purposes, we define luxury as the highest level of prestigious brands encompassing several physical and psychological values. To explain consumers‘ behavior in relation to luxury brands, apart from interpersonal aspects like snobbery and conspicuousness, personal aspects such as hedonist and perfectionist motives as well as situational conditions (., economic, societal, and political factors) have to be taken into consideration. The consumption of luxury goods involves purchasing a product that represents value to both.
