What Does Luxury Mean?

To some, it is getting the next big “thing”.

However, to others, it’s simply being happy and having the privilege to live the life they want.

Money Does Not Buy Happiness

Unfortunately, the media and society paints the picture in our heads that money (or luxury) buys happiness.

As stated in The Science of Well-being course by Yale, after reaching $70k, happiness is no longer valued by monetary success. 

Similarly, at what point does having luxury items become irrelevant?

Re-Thinking Business

The recent push towards sustainability in the past 2-5 years is forcing every company to re-think their model.

For example, from how businesses are managed or where products are being sourced.

As a result, high-end brands are also now being questioned.

“How are luxury brands contributing to the world of fast fashion and consumerism?”

Changing The Conversation

Above all, as consumers, we have the biggest opportunity to change the conversation.

Luxury is less consuming, more reuse.

For example, it could be having a capsule (smaller) closet of quality branded clothes that last a lifetime.

It is getting to wake up with an able body, conscious mind and alert senses.

Last but not least, luxury is quality > quantity

Access to Luxury

In closing, not everyone has access to luxury in these ways.

To help solve this problem, we’ve come up with the following questions:

• How can brands still offer better product without compromising comfort, quality or price?

• Where can management teams create more small business models inside their bigger brand?

• Can operational teams source more direct in areas around the world their products are sold or offered?

To Take Action

At the end of the day, if it was easy, every brand would already be doing this.

Small, daily action leads to consistent results.

Dig deep to find your own happiness and challenge your favorite brands to act smarter (for you and the planet).