QUIET LUXURY

Contrasting attitudes to displaying wealth

QUIET LUXURY

Contrasting attitudes to displaying wealth

QUIET LUXURY

Contrasting attitudes to displaying wealth

The UK’s dual relationship with wealth and quality

The UK appears to be a country of shrinking violets. Just 10% say they like to own or do things that display their wealth, while a significant 70% disagree – and a third strongly oppose it. Even among those groups who might be considered more prone to ostentation, such as Generation Z and high earners, less than a fifth will admit seeking to flaunt their wealth.

“%

say they like to own or do things that display their wealth, while a significant 70% disagree – and a third strongly oppose it.”

However, this is only half the story. The wording of our question feels anathema to some of the unshowy stereotypes we hold about ourselves as Britons. When we approach this from a slightly different direction, the results look very different. Half of Britons (48%) agree that they often spend extra on higher quality products, even if it costs more, including two-thirds of those with six-digit household incomes and half of those who consider themselves to have been very successful in life.

The rise of quiet luxury

This tension is ripe for a sociological exploration of the semiotics associated with signs of quality. Work Ipsos has conducted in this area in recent years suggests there is a broader cultural shift that drives a growing subtlety of wealth displays, now referred to as “quiet luxury”. Perhaps a rejection of excessive branding, or an attempt of those at the top of the economic ladder to deflect attention from wealth in the face of growing inequalities, “quiet luxury” has garnered much attention in the last year.

Differentiating the purchase of items considered “high quality” from buying things in order to “show off” wealth is a good explanation of this dynamic. One of the drivers has been the concept of mass premiumisation. Many brands attempt to create the “signs” of quality to appeal to mass consumers, even when they cannot provide the actual quality of more expensive brands. The signs of a mass premiumised product differ across categories, but generally it entails the use of minimalist aesthetics in packaging, the use of luxury-like logos or colour palettes, elegant typography in marketing or branding, or in the product itself, tactical and selective use of a quality material (e.g. leather) to emulate a higher quality product.

As what was once premium becomes mass, the signs that constitute “true quality” are forced to change. As discretion has come to the fore. Luxury is increasingly interpreted as the more subtle knowledge of the rare few, recognised only by those who are in-the-know. By contrast, show-off signs look increasingly loud as both brands and the people using them appear to be trying too hard to look exclusive.

As “authenticity” and social values become increasingly pertinent in the cultural and consumer landscape and showing off feels increasingly superficial, many sectors have entered an arms race of premiumisation, creating a challenge for brands in both mass and luxury spaces to create – and maintain – real exclusivity.

“There is a broader cultural shift that drives a growing subtlety of wealth displays, now referred to as ‘quiet luxury’.”

Our reflections

Concepts like luxury, quality and affluence are human constants; but our analysis suggests the signs that indicate these are shifting. What we might call traditional concepts of affluence – centred on precision and perfection, heritage and hierarchy, individualism and stability – are being disrupted by a more future-facing vision.

This new approach is more about action and authenticity, born out of their character: their courage, entrepreneurialism and balance. If the new signs of success are about how true people are to themselves, their network and interactions with society, their ability to innovate their own life, what new signals might luxury brands, or brands looking to create an air of premiumisation need to emphasise to create an affluent experience?

“What we might call traditional concepts of affluence – centred on precision and perfection, heritage and hierarchy, individualism and stability – are being disrupted by a more future-facing vision.”