Between Availability and Prestige in the Context of Luxury Democratization and Brand Image Dilution

Baltezarević, Ivana and Baltezarević, Radoslav and Ravić, Nenad and Krsmanović, Stefan (2025) Between Availability and Prestige in the Context of Luxury Democratization and Brand Image Dilution. Megatrend revija, 22 (3). pp. 67-78. ISSN 1820-3159

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Abstract

The contemporary market of luxury products is undergoing profound changes due to the increasing availability of brands that were traditionally associated with exclu- sivity and social prestige. The process known as the democratization of luxury has led to the fact that luxury is no longer exclusively a symbol of rarity and elite status, but is becoming part of a wider consumer culture, strongly shaped by digital channels and mass communication. This paper examines how the increased availability of luxury brands affects their perception and symbolic value among consumers. Special emphasis is placed on the role of digitization, secondary markets, new business models and mass luxury strategies in weakening the sense of exclusivity and differentiation. The results indicate that, although such strategies may contribute to increased sales and brand visibility, they simultaneously call into question the authenticity of luxury brands and their ability to maintain a prestigious image in the long term. The paper concludes that the success of luxury brands in the modern environment is conditioned by finding a balance between market expansion and the preservation of symbolic values that make luxury desirable.

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