The role of scarcity, rarity and exclusivity in luxury fashion accessory marketing

Abstract

This thesis examines the role of scarcity, rarity and exclusivity in the context of luxury fashion accessories marketing. The study aims to identify the differences of these three concepts that have been used interchangeably in previous literature. Accessories are a highly visible category of luxury products, where consumer behavior is strongly influenced by symbolic value and psychological responses. Understanding these responses and their causes better can be used to improve the strategies of luxury accessory brands.

The study is an integrative literature review based on peer-reviewed academic articles, and it uses bibliometric analysis as a method to analyze previous research made on the topic. The study is theoretical and does not include empirical data. Literature review shows that scarcity, rarity and exclusivity are distinct but connected mechanisms that luxury brands combine to create a unique strategy. Central psychological mechanisms as responses to scarcity cues were identified: status signaling, social comparison, need for uniqueness, fear of missing out, pride and urgency-driven decision processing. Based on the literature view, gaps in current research are identified and possible directions for future studies are suggested.