New Technologies in Luxury Consumption : Evidences From Research and Implications for Marketing Strategies

This book sheds light on current issues and opportunities that have been activated by new technologies in the luxury field. It places special emphasis on new technological integration, such as Artificial Intelligence, Internet of Things, Virtual Reality and Blockchain in the context of luxury consumption. Beginning with a detailed overview on current prominent technologies and their current uses in luxury, the book goes on to present experimental studies on luxury fashion, luxury tourism, luxury food and luxury real estate industries. Each chapter contributes to the design of a final diagnostic model that guides readers and managers through strategic marketing planning. Andrea Sestino (Ph.D) is Adjunct Professor of Competitive Strategy at LUISS University, Italy. He is also a Research Fellow in Management and Marketing at the University of Rome Tre, Italy and a Research Assistant at the Catholic University of Sacred Heart. In addition, he has been an Expert Collaborator for the Italian Minister of Economic Development and is the co-author of Non-fungible Tokens (NFTs) (Palgrave McMillan, 2022), as well as several journal articles. Cesare Amatulli is Associate Professor of Marketing (University of Bari). He also teaches at LUISS University and at the University of Milan. He has been Visiting Researcher at the Ross School of Business (USA) and at the University of Hertfordshire (UK). He has published several articles in major international journals and is the co-author of Sustainable Luxury Brands (Palgrave Macmillan, 2017) Foreword Acknowledgments Contents About the Authors List of Figures List of Tables Chapter 1: Introduction 1 The Fascinating World of Luxury and New Technological Innovations 2 Luxury and New Technologies: A New Promising Match? References Chapter 2: The Issue of Integrating New Technologies in Luxury Marketing: A Literature Review 1 Introduction 2 Theoretical Background 2.1 The Relevance of New Technologies and the Digital Transformation 2.2 New Technologies as Key Enablers Factors of Digital Transformation 2.2.1 Big Data 2.2.2 Internet of Things 2.2.3 Artificial Intelligence 2.2.4 Virtual Reality and Augmented Reality 2.2.5 Blockchain 2.2.6 Metaverse 2.3 Luxury Market and Luxury Consumption 3 Methodology 3.1 Phase 1: Keywords Definition 3.2 Phase 2: Database Extraction and Querying 3.3 Phase 3: Data Preparation 3.4 Phase 4: LDA 3.5 Phase 5: Data Analysis—Emerging Findings and Topic Modeling 4 Findings 4.1 Luxury Fashion and New Technologies 4.2 Luxury Tourism and New Technologies 4.3 Luxury Food and New Technologies 4.4 Luxury Real Estate and New Technologies 4.5 Miscellanea 4.5.1 Luxury Lifestyle and Wellness 4.5.2 Health, Plastic Surgery, and Aesthetics 4.5.3 Wellness and Fitness 4.5.4 Automotive 5 Conclusions References Chapter 3: Integrating Smart Objects and Artificial Intelligence in Luxury Fashion Retail: The Role of Consumers’ Status Consumption Orientation 1 Introduction 2 Theoretical Background 2.1 New Technological Integration in Luxury Retail 2.2 The Role of Consumers’ Status Consumption Orientation 3 Methodology 3.1 Sample and Materials 3.2 Questionnaire 4 Results 5 General Discussion and Conclusion References Chapter 4: Integrating New Technologies in Luxury Hospitality Experiences: The Effects of Luxury Hotel Communication Focus (Traditionality vs. Modernity), and Consumers’ Materialism 1 Introduction 2 Theoretical Background 2.1 The Evolution of Luxury Hospitality 2.2 Consumers’ Materialism 3 Methodology 3.1 Sample and Materials 3.2 Questionnaire 4 Results 5 General Discussion and Conclusion References Chapter 5: Integrating Smart Objects and Artificial Intelligence in Real Estate: Luxury Real Estate Communication Focus (Prestigiousness vs. “smartness”), and the Role of Consumers’ Conspicuous Consumption Orientation 1 Introduction 2 Theoretical Background 2.1 The Luxury Real Estate Industry and New Technological Opportunities 2.2 The Role of Consumers’ Conspicuous Consumption Orientation 3 Methodology 3.1 Sample and Materials 3.2 Questionnaire 4 Results 5 General Discussion and Conclusion References Chapter 6: Integrating Blockchain Technologies in Wine Industries: The Role of Perceived Self-Service Technologies Quality and Consumers’ Need for Uniqueness 1 Introduction 2 Theoretical Background 2.1 The Relevance of Blockchain Technology in Food Traceability 2.2 The Role of Consumers’ Needs for Uniqueness 3 Methodology 3.1 Sample and Materials 3.2 Questionnaire 4 Results 5 General Discussion and Conclusion References Chapter 7: Integrating New Technologies in Aesthetic Clinical Surgery: The Role of Consumers’ Vanity 1 Introduction 2 Theoretical Background 2.1 Luxury Healthcare 2.2 The Role of Consumers’ Vanity 3 Methodology 3.1 Sample and Materials 3.2 Questionnaire 4 Results 5 General Discussion and Conclusions References Chapter 8: Conclusions 1 The Issue of Integrating New Technologies in Luxury Industries and Consumption 2 Overall Findings References Appendix A: Survey Related to the Study in Chap. 3 “Fashion” Introduction Status Consumption Orientation Willingness to Buy Sociodemographic Variables Appendix B: Survey Related to the Study in Chap. 4 “Tourism & Hospitality” Introduction Consumers’ Materialism Willingness to Buy Sociodemographic Variables Appendix C: Survey Related to the Study in Chap. 5 “Real Estate” Introduction Conspicuous Consumption Orientation Willingness to Buy Sociodemographic Variables Appendix D: Survey Related to the Study in Chap. 6 “Food” Introduction Need for Uniqueness Perceived Self-Service Technology Quality Willingness to Buy Sociodemographic Variables Appendix E: Survey Related to the Study in Chap. 7 “Health & Wellness” Introduction Vanity Willingness to Buy Sociodemographic Variables Glossary Index