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7: Selling Luxury with Ben Voyer: Inside the Mind of the Modern Luxury Buyer
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Introduction
In this episode of Selling Luxury, we explore the psychology of affluent buyers through a research-based lens with behavioral scientist Professor Ben Voyer, chairholder of the Cartier Turning Points Research Chair at ESCP Business School and the London School of Economics. Ben offers a rare blend of academic understanding and real-world insight into how identity, self-perception, and culture influence luxury buying behavior. Our conversation bridges the worlds of experiential understanding and scientific research to reveal what truly drives luxury consumers today.
Episode Summary
Ultra-wealthy consumers are hard to study, so qualitative interviews can reveal the most insight. Status signals are giving way to authenticity, craft, and sincere experiences. "Exclusivity" now means rarity and intimacy, not elitism, especially for Gen Z. Self-perception, humility in sales, and brand passion/storytelling shape purchase decisions, while the best luxury brands act as role models that bring calm and transformation.
Key Takeaways
Authenticity is the new prestige. The modern affluent buyer values truth, craftsmanship, and emotional resonance more than price or status.
Exclusivity must evolve. Younger generations interpret exclusivity as intimacy, rarity, or experience, not elitism.
Belonging vs. uniqueness is a constant tension. Luxury buyers want to feel part of a community while maintaining individuality. Successful brands honor both.
Self-perception drives behavior. Understanding how clients see themselves is essential to serving them well. Luxury service begins with self-awareness and humility.
Passion and storytelling sustain luxury. When brands lose touch with their founding stories or genuine enthusiasm, they risk becoming hollow.
Spotlight Guest
LinkedIn: https://www.linkedin.com/in/prof-ben-voyer
Website: benvoyer.com
Contact Host
Website- www.jeffreyshaw.com
Speaking- www.jeffreyshawspeaks.com
Books- www.jeffreyshaw.com/books
8 episodes
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