Luxury dematerialization strategies: from ownership to experience

The concept of luxury has undergone a significant transformation, shifting from an emphasis on material products to the creation of memorable experiences. This dissertation explores the processes of luxury dematerialization, where products serve as integral components of a broader service offering designed to deliver superior experiential value. The study examines the theoretical foundations of luxury, its evolving definitions, and the psychological and behavioral drivers that have redefined consumer expectations. It then investigates the factors driving dematerialization, including digitalization, sustainability, and changing socio-cultural dynamics. A key focus is on the strategic transition from product centrality to experience-driven luxury, emphasizing the role of customization, emotional engagement, and technology in enhancing perceived value. The research further analyzes how innovations such as artificial intelligence, augmented reality, and NFTs are reshaping luxury consumption in digital environments. Through case studies of leading luxury brands, the dissertation evaluates the successes and challenges of dematerialization strategies, offering insights into emerging trends and future business models. Ultimately, this study contributes to understanding how luxury brands can navigate the evolving landscape by balancing tradition and innovation to meet the demands of the modern consumer.