Luxury items and price increases - what do you think?

#3
In my opinion, I don't like the price increase, the thought of "I could have paid xx less had I bought this bag a few months ago" doesn't make purchasing new purses all that fun. However, this is not going to stop me from purchasing a purse I truely desire. A brand can do whatever they please, I highly doubt they would have a shortage of customers even with their constant increase. Also I'm sure there is a business side to it that we as customers don't see.
 
#4
Price increases maintain the perceived value of an item, just like company staged shortages like Chanel is also dabbling in by limiting the new of bags of certain styles that can be sold per store over a predetermine amount of time. Sometimes if an item is too readily available it loses its appeal, like what happened to Burberry with the Chav culture in the UK.
 
#5
it's a marketing strategy to give ppl a push in buying a new bag... ex someppl always think about buying that classic flap bag but never got to it... when u put in a rumor that prices are going to increase then ppl rush to get the bag asap...
 
#6
ynz said:
it's a marketing strategy to give ppl a push in buying a new bag... ex someppl always think about buying that classic flap bag but never got to it... when u put in a rumor that prices are going to increase then ppl rush to get the bag asap...
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The problem with Chanel and LV is that they DO raise prices. Way way too often and with Chanel the increases are really high considering it's not the same quality it once was... They raise cosmetic prices twice a year a well. Every Jan is the main one and in June some items get increased but it's not HUGE. Like some of these fashion houses ... They have let the handbag fame and logo game go to their heads.
 
#7
Honeslty...Their target consumer does not care about the increase. Hence why they are able to increase the price all the time. If people really did not like it then they would not buy the product anymore. Then the price would be lowered.

Their main consumer are the wealthy who do not care about prices to a certain extent. You really think someone going to purchase multiple handbags at the same time is going to notice the price increase?

All of these boutiques are in wealthy areas as well. Ever notice there is not a Chanel in every mall? Lol

If you do not like it then do not support the brand. Simple as that
 
#8
MyMyMy said:
Honeslty...Their target consumer does not care about the increase. Hence why they are able to increase the price all the time. If people really did not like it then they would not buy the product anymore. Then the price would be lowered.

Their main consumer are the wealthy who do not care about prices to a certain extent. You really think someone going to purchase multiple handbags at the same time is going to notice the price increase?

All of these boutiques are in wealthy areas as well. Ever notice there is not a Chanel in every mall? Lol

If you do not like it then do not support the brand. Simple as that
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Yes I am aware there isn't a Chanel in every mall and know that very WEALTHY people don't normally care about price increases but even wealthy try save $$$ ( believe me having worked in retail getting back returns on designer shoes / clothes for even the slightest difference/mark downs .. they want the lowest price just like anyone else does..and these were not people who had to worry about a few hundred let me tell you ).

Of course it's easy to not support any brand I dislike, doesn't mean I don't have an opinion and can voice it. I won't stay mute just because someone has more $$ than me. Or less.

I don't buy Coach , don't support it and have a big opinion on that brand as well.
 
#10
pinkfeet said:
Yes I am aware there isn't a Chanel in every mall and know that very WEALTHY people don't normally care about price increases but even wealthy try save $$$ ( believe me having worked in retail getting back returns on designer shoes / clothes for even the slightest difference/mark downs .. they want the lowest price just like anyone else does..and these were not people who had to worry about a few hundred let me tell you ).

Of course it's easy to not support any brand I dislike, doesn't mean I don't have an opinion and can voice it. I won't stay mute just because someone has more $$ than me. Or less.

I don't buy Coach , don't support it and have a big opinion on that brand as well.
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I'd love to hear your opinions on Coach out of curiosity. I've never been a fan of the brand (not sure why though), but I'd love to know more about your thoughts:graucho:
 
#11
they raise their prices because they CAN.. but it does edge certain people out... like me.. I used to buy Chanel.. not a LOT, but once in a while I'd treat myself... but now, forget it.. No way I can wrap my brain around paying over $4K for a handbag... so I'm sticking to my vintage bags..(which from what I understand are better quality than the new bags anyway)
 
#12
Luxury brands target consumers who really don't care much about the price, if one is willing to pay $4k for a handbag, I'm pretty sure they wont mind paying 5 or 6k for that same handbag if it holds that current market price. That being said, its normal that luxury items are on a steady price increase.
 
#13
I find this kind of news really depressing. As someone on a limited student budget, it was already pretty painful to buy a bag at $4k. But like a lot of people mentioned already, I am hardly the target consumer.
What is Chanel thinking though?! If a customer walks in and wants a bag and sees the price tag, then says "Oh 4k for a bag? Slap on another 2k for NO REASON? SURE WHY NOT!" :nono:
Too bad price decreases occur much less often than the price increase...
 
#14
The price increases are annoying. Let's be real here, the wealthiest people only make-up 1% of the population, so clearly they are not the only ones buying these products. The other 99% of us are. It is rather annoying to see the exact same bag for much more. It's not worth any more, or made any better. I would prefer new styles be introduced at higher prices than seeing something jump $300+ in price. Inflation is one thing, price gouging is another.

And personally I like Coach. They have really great leather products. People get focused on their ubiquitous logo patterns not realizing that their leather products are more discreet with no visible logos and quite lovely.
 
#15
JadaStormy said:
The price increases are annoying. Let's be real here, the wealthiest people only make-up 1% of the population, so clearly they are not the only ones buying these products. The other 99% of us are. It is rather annoying to see the exact same bag for much more. It's not worth any more, or made any better. I would prefer new styles be introduced at higher prices than seeing something jump $300+ in price. Inflation is one thing, price gouging is another.

And personally I like Coach. They have really great leather products. People get focused on their ubiquitous logo patterns not realizing that their leather products are more discreet with no visible logos and quite lovely.
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I'm not quite sure I agree with what I've highlighted in red. I think these companies are trying to become exclusive to only the 1% and if they get a few strays beyond that grade of consumer, they don't care. I think they are trying to achieve having less people wearing fakes of their bags, and have their bags seen on very well coiffed women. For me personally, while I can technically "afford" bags in a certain range, I refuse to spend it. In the end, it is after all, a bag! It's not a diamond necklace that I can pass down or an heirloom. It becomes a used leather bag irregardless of who designed it. If they want to exclude me from their market base, it's totally fine. I am secure in my skin and will happily garnish my money on a different company. There is nothing like uniqueness and variety!
 
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