Discussion, conclu- sion and limitations

Figure 50: AM/PM campaign, Pinterest, 2013 Figure 51: Love French is better coat, Pinterest, 2021 Figure 52: GMD Berlin bookcases, 1stDibs, 2022

Discussion, conclusions and limitations

This section aims to explore the further results and key findings presented previously by research found in the literature review and data results. This discussion will consider the three main objectives of this dissertation in order to answer the main research questions with supporting findings from the previous research studies. The three main objectives are: To understand the key characteristics of the fashion luxury business model and why it acts as a leader for other industries; analyzing companies marketing investments in forecasting and new consumer value perceptions as a fashion business model adoption; and analyzing the conversion from traditional luxury towards the unconventional luxury made for the masses as an optimistic scenario for other industries to perform these practices.

As discussed previously in the literature review, it was discovered that, other industries have enhanced the evolution of the FLBM as it is, coming from a traditional product-focused conceptualization, the FLBM has switched into an experiential scarcity approach inquiring the idea/concept of “luxury democratization” thanks to the current technological advancements which have given the individual an effortless accessibility to luxury companies. The research that accompanied the FLBM lead to the exploration of the new six factors that differentiate the FLBM companies positioning inside the luxury industry, proving that other companies by adopting the FLBM still can differentiate themselves by selling affordable products with premium prices and aspirations on higher levels of quality and creativity, nevertheless, reshaping the identity of products has enhanced the economy of icons, adjusting the inquiring an experiential approach at an intimate measure between companies and the individual. Furthermore, an important finding is that the FLBM updated and enhanced the compelling practice for other industries to practice institutionalism innovations, serving as organizational reflections of the consumer’s behaviors and rationality, motivating companies to step into the FLBM in order to have “self-relevancy”. However, there is a considerable amount of studies that counterpart between the effectivity of institutionalism concepts or having a consumer-centered approach.

Additionally, it was considered that thanks to the unconventional luxury, consumers have shifted from status-driven consumerism into a more identity-driven consumerism representing an attachment between social/emotional values with luxury consumption. This has enhanced the individual’s luxury perceptions as having an extended self reflection towards the FLBM products.

From the scientific research collected from the previous sections, an important concept of the evolution of the unconventional luxury was studied. Discovering that the new luxury conveys consumers that own-to-experience and claim for epistemological, experiential and agentic aspects creating the dematerialization of the luxury product towards an holistic approach. Nonetheless, there is still a lack of investigations about this concept as it is a very current and undiscovered topic.

The author interpreted the characteristics of the contemporary unconventional luxury into the Nespresso case among others, discovering and proving its relevancy and effectiveness into the FLBM composition by studying the before and after the application of the FLBM inside the coffee company and how it became successful by applying the previous concepts and key components. On the other hand, the qualitative and quantitative studies in data results, affirmed the idea that a company requires innovation, total control on their assets and long term vision in order to apply the FLBM successfully. Presenting a statement of the extent where the objectives and research questions of this dissertation were met and understanding the way in which other industries can apply and develop into the FLBM was met through the literature and data collection examined. It enabled the formation and summary of the evolution and application of the FLBM. Determining its effectiveness and inviting other industries to apply this model in order to achieve their objectives and long term visions with the acknowledgment of consumers shifts in lifestyle and behaviors, but also their new luxury perceptions/requirements from companies.

Concerning the limitations the student had through the dissertation, the main difficulty was the access of quantitative sources throughout the data collection process but also a lack of scientific studies concerning the contemporary concept of the unconventional luxury. To conclude, FLBM is a fundamental topic in order to understand its successfulness and therefore be seen as an inspiration for companies long term visions seeking to increase their profit margins through this concepts. furthermore, The author motivates and offer possibilities for future research avenues and exploration into the new unconventional luxury but also the other industries behaviors towards the FLBM.