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You get what you pay for: sustainability practices within the luxury markets

You get what you pay for: sustainability practices within the luxury markets The current issue and full text archive of this journal is available on Emerald Insight at: https://www.emerald.com/insight/2056-3515.htm ASR You get what you pay for: 9,1 sustainability practices within the luxury markets Received 13 February 2023 The goal of most businesses has traditionally been to make as much profit as possible, Revised 17 February 2023 Accepted 17 February 2023 without care for the impacts that may be associated. The use and exploitation of limited resources was merely seen as a means to an end, and at times a necessary evil. Even with luxury products, ethical and environmental concerns surrounding their business activities were commonplace. Luxury goods and sustainability are assumed to have differing fundamental principles; with luxury goods being more indulgent, whereas sustainability is more associated with more minimal aspects. While luxury goods remain an indicator of social status that consumers gravitate towards, some preferences are changing. In today’s economic environment, most customers are weary about where they spend their money not because of financial reasons but as from an impact perspective. Customers have become more discerning, not wanting to contribute to the degradation of sustainability aspects. This is applicable whether it relates to environmental or social aspects. Organisations that http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Annals in Social Responsibility Emerald Publishing

You get what you pay for: sustainability practices within the luxury markets

Annals in Social Responsibility , Volume 9 (1): 2 – May 2, 2023
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References (1)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2056-3515
DOI
10.1108/asr-02-2023-0010
Publisher site
See Article on Publisher Site

Abstract

The current issue and full text archive of this journal is available on Emerald Insight at: https://www.emerald.com/insight/2056-3515.htm ASR You get what you pay for: 9,1 sustainability practices within the luxury markets Received 13 February 2023 The goal of most businesses has traditionally been to make as much profit as possible, Revised 17 February 2023 Accepted 17 February 2023 without care for the impacts that may be associated. The use and exploitation of limited resources was merely seen as a means to an end, and at times a necessary evil. Even with luxury products, ethical and environmental concerns surrounding their business activities were commonplace. Luxury goods and sustainability are assumed to have differing fundamental principles; with luxury goods being more indulgent, whereas sustainability is more associated with more minimal aspects. While luxury goods remain an indicator of social status that consumers gravitate towards, some preferences are changing. In today’s economic environment, most customers are weary about where they spend their money not because of financial reasons but as from an impact perspective. Customers have become more discerning, not wanting to contribute to the degradation of sustainability aspects. This is applicable whether it relates to environmental or social aspects. Organisations that

Journal

Annals in Social Responsibility – Emerald Publishing

Published: May 2, 2023

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