Is “Affordable Luxury” Just Marketing Hype? (Myth or Magic)

If you’ve been our reader for some time, there’s a good chance you’ve seen some sort of “affordable luxury” style marketing before. So, in today’s installment of Myth or Magic, we’ll be putting the trope of “affordable luxury” under the microscope to see if it’s worth its weight or just marketing bait.

It’s certainly our experience here at the Gentleman’s Gazette that we “affordable luxury” pretty much daily. After all, when you’re looking at some of the high-end brands we consider for our Is It Worth It? series, or pretty much any other piece of content we create here on the website, it’s no wonder that we’re going to see affordable luxury alternatives after a while. But with this style of marketing now so omnipresent, that got us thinking: Is the concept of “affordable luxury” really all that it’s cracked up to be?

Defining “Affordable Luxury”

Well, perhaps the simplest way to start analyzing things is to take a look at the individual definitions for both the words “affordable” and “luxury.”

First up, we can see that the term ‘affordable’ is pretty simple and straightforward in its definition essentially boiling down to low in cost. So, what about the term ‘luxury”, then? Oh good, it means pretty much the exact opposite of affordable. 

This is an issue because essentially taking these two words together, the definition of affordable “luxury directly” contradicts itself. Phrased another way, is it really possible for something to be cheap and expensive at the same time? It’s at this point that we need to take a deeper dive into things and discuss the concept of subjectivity, even though both of these two terms possess clear definitions, each of them is also individually subjective to a degree.

‘Affordable’ is Subjective

Let’s go back to our dictionary entry for ‘affordable’ first and take a look at its examples. One of them mentions housing. This is a particularly good example because it’s relatable for everyone who has considered the costs of housing and living, whether you’re a homeowner, renting an apartment, or just on your first steps of the property ladder.

Whether a property of any kind will be affordable to you comes down to a number of factors, including your income, your regular outgoing costs, and whether the property suits your needs. After all, if you work from home, for example, but the home in question has no internet, you might wonder if it’s worth it even at a very low cost. 

So, although this specific example talks about residences, it’s easily transferable to clothing and the other lifestyle items we talk about here at the Gentleman’s Gazette.

As another example, let’s use a fountain pen, which can come in a wide array of price points, from just a few dollars for a disposable everyday pen, to many thousands of dollars for exclusive collector’s items. In this case, much like the property example affordability can be determined by simply how much money you’ve got on hand to pay for a pen, but it can also be a bit more complicated.

This is where subjectivity comes into play again, because even if you’ve done your research, you have to decide not only how much you can spend on a fountain pen but, indeed, how much you want to spend.

Where subjectivity enters specifically, then, is that how much you want to spend is going to be determined by how much you personally value fountain pens. Take someone like Raphael, for example. He loves writing with a fountain pen, he used to collect and sell them, and he has a level of disposable income, such that he can comfortably afford to spend money on one or more relatively expensive fountain pens. 

Meanwhile, I also quite enjoy writing with fountain pens, and I would, perhaps, consider setting aside some money to purchase a single expensive pen, but given both my preferences and my financial situation, I simply don’t value fountain pens as highly as Raphael does.

All of this is to say, items marketed under the “affordable luxury” banner don’t and, indeed. usually can’t bring into the equation how much you’re personally going to value the item in question. Instead, they draw you in as a customer using a low relative cost and hope that you’ll simply value the item because of its status as a luxury purchase.

‘Luxury’ Can Mean Status

So, then, let’s revisit our other dictionary definition, the one for ‘luxury’ and as we can see it connotes the idea of wealth extravagance and, again. status. In other words, if you can purchase something that is both expensive and ultimately unnecessary to the experience of daily life, then you must be a somebody. The truth is, we’re constantly surrounded by various displays of wealth and luxury and, indeed, this has been true all throughout history. After all, some historical record focuses on the wealthy simply because they had the means to have their lives documented.

Nowadays, in the age of the internet and social media, this phenomenon seems even more prevalent. Now that people don’t have to be wealthy to document and showcase their lives, there’s an even greater mix of people providing insight and documentation on their lives on these various social media platforms. With this comes the ability to portray a different persona online, essentially only putting a curated version of your supposed best self forward.

One consequence of this is that there’s a greater draw than ever to luxury status symbol purchases, even for those who might not be able to comfortably afford them. After all, seeing a noted celebrity or influencer carrying a Louis Vuitton duffel bag is going to create some interest in a good number of people, even if the bag might not actually be worth it. And, although there are some who would only consider purchasing the luxury product, there are those who simply can’t afford it, and here is a place where supposed “affordable luxury” can seem very attractive.

The Problem With “Affordable Luxury”

Today, with a wealth of alternatives to luxury items out there, it certainly can seem like the concept of affordable luxury is a good one to look into. Let’s take a sweater as another example here as it can also exist at multiple ends of the cost spectrum, from a few cents at a thrift store to many thousands of dollars in an offering from a couture design house.

If we get more specific and talk about a cashmere sweater, we know that cashmere is often touted as a luxurious and expensive material, and that’s manifested in high price items like this offering from Ralph Lauren. So, when you see a brand offering a cashmere sweater at a much lower upfront cost, like this model from Uniqlo, it can seem like you’ve scored a bargain. After all, it’s pretty much the same sweater.

We’ve already taken a deeper dive into cashmere in another post, but it’s a good example for the concept of affordable luxury as well because of cashmere’s well-documented status as a luxury material. But, as we dig further into these examples, we can see that one problem with the concept of affordable luxury is that it gives you a false sense of security.

For example, taking two different sweaters at face value, they are both plain navy blue cashmere crew neck sweaters. But, of course, there is an almost 900 difference in the list price, and it can be easy to assume that that extra money is just you as the consumer paying for the brand name and the cachet that goes with it.

In addition to their looks, there are also other similarities between these two sweaters, including the inherent cost of raw materials, the fact that they both need to be crafted into a wearable garment that needs to be packaged, and stored then marketed and sold, whether online or in-store, and all of the overhead costs that go along with these things.

And, finally, both Ralph Lauren and Uniqlo are run for profit and, thus, they need a profit margin on both of their items and it’s here, specifically, where the concept of affordable luxury really starts to unravel. If the affordable luxury company can seemingly offer exactly the same product as the full luxury brand, how does this even make sense when they’re undercutting the full luxury item at almost 90%? Well, the affordable luxury company does have its profit margin to consider, too.

So, given that the finished good is marketed at a lower price, it’s safe to say that there are going to be corners cut in other areas, either in terms of materials, where lower quality material might be used or in production, where processes are automated and there may not be as high an attention to detail.

What this often means is that you the consumer have ended up purchasing what feels like a luxury item but isn’t actually that luxurious at all. And this feeling is often quite literal, as many affordable luxury companies put effort into replicating the touch and look of designer goods. But the reality is often that these goods are much closer to being disposable fast fashion items than those of true luxury.

Conversely, we think it’s important to say that this doesn’t mean that you should always go out and spend $995 on a sweater, or that a well-known brand name or a high price tag are guarantees of quality. Again, decoupling eye-popping prices from notions of craftsmanship is one of the hallmarks of our long-running Is It Worth It? series. So, as trite as it might sound, the true answer lies somewhere in the middle in terms of this quality versus price equation, but more on that later.

What Makes an Item “Luxury”?

Let’s return to our definition of luxury one more time to see that what also makes an item luxurious is that it’s different from what’s considered normal. This brings to mind things like exclusivity, rarity, and a higher than usual cost. Therefore, true luxury products are often showcased in a way that shows off the exclusivity of their nature. This, of course, is in contrast to the signature styling of your local Walmart.

In other words, products that are stacked to the ceiling and high in volume generally aren’t looked upon with the idea of being luxurious. But this arrangement is often seen with affordable luxury goods, because, after all, even if they’re presented in a way that attempts to make them look more luxurious, the companies behind them have to compensate for the low price of the goods by having more of them, in terms of raw quantity.

So, is it Myth or Magic?

So, then, that gets us to our main question for today: Is affordable luxury myth or magic? We think it’s safe to say that for the most part, we’re going to come down on the side of myth here, but we should be more specific. In this case, the myth isn’t just about the products themselves, but specifically that they’re marketed under the banner of ‘affordable luxury’ in the first place.

As we’ve already discussed, brands that use language like this are often trying to lure you in by making you think that you’re getting a bargain. In reality, though, you’re not necessarily going to be saving money because the typical affordable luxury business model is often quite similar to that of fast fashion brands, in terms of cheap materials, cheap manufacture, huge production volume, low upfront cost, and therefore, larger profit margins.

So, while the quality of an affordable luxury item might be higher than that of a fast fashion item, when you consider the cost calculus of materials and production versus marketing and hype, there’s often going to be just as much of a markup for affordable luxury goods as for genuine luxury goods; if not. more so. It seems like the deeper we dig, the more we find that affordable luxury is actually full of contradictions.

To put all of this another way, then, many affordable luxury companies might be better off marketing their products as middle-priced options; not cheap but not overly expensive. We’re not saying that this would necessarily be effective marketing, but it would, at least, be honest. That being said, the thing about genuine luxury items is that, well, they’re expensive.

So, if you simply can’t afford a full luxury item, do you have any other options? If you’ve been a reader for any length of time, then you won’t be surprised when we say, yes! The best option you have in terms of true affordable luxury is the vintage and pre-owned market.

It’s no secret that we here at the Gentleman’s Gazette are huge fans of buying vintage, as there are many benefits to buying pre-owned and relatively few drawbacks, at least as compared to modern affordable luxury products, which often aren’t going to live up to how they’re advertised.

Furthermore, the very concept that an item can be bought and given its first life with an owner, then passed on to another owner and given a second life, speaks not only to the fact the cost per wear or cost per use of the item will be lowered dramatically over its own lifetime, but also to the fact that the product will have a greater longevity.

And, of course, the personal value for an item like this often goes off the charts, as if it becomes something like an heirloom that’s passed down through multiple generations of a family, the meaning only builds. It’s also beneficial to consider that buying a pre-used luxury item might mean that you’ll actually use it yourself more often.

Even if you can afford a brand new Omega watch, for instance, the idea of wearing it out and about for the first time might be daunting, as you might be afraid to give it its first scratch or scuff. But if you buy a watch vintage, there’s a good chance that there’s already going to be some of a lived-in character to the item, so you won’t have to worry about giving it that first little ding. It’s all just part of the vintage experience.

As other examples, our script supervisor, Jack Collins. has been able to incorporate several pre-owned luxury items into his own wardrobe in the past few years. In addition to various items of tailoring, you’re seeing several of them here, including a Globe-Trotter suitcase, a Frank Clegg leather bag, and several pairs of footwear from renowned makers like Crockett and Jones, Edward Green, and Gaziano and Girling.

Of course, Jack isn’t alone here as pretty much all of us on the Gentleman’s Gazette team have been able to add various pre-owned luxury items to our wardrobes over the years. Indeed, you can take a look at a list of our favorites. And if you’re interested to know about how you can add some truly affordable luxury pieces to your own wardrobe, Raphael shares his secret process for online shopping.

Conclusion

In conclusion, then, “affordable luxury”, when marketed and sold as such in order to make you think you’re getting a bargain, is far from magical. In other words, this sort of marketing hype is really doing you as the customer and, indeed, the business as well, a disservice. And, if it’s true affordable luxury you want, then going vintage or pre-owned is often going to be your best bet.

Outfit Rundown

Today, I’m wearing a business casual ensemble based around a brown, green, and orange color feel, and featuring a few vintage items. The central element here is my camel hair sport coat, which you can tell is a vintage piece by its worn football buttons, and in fact, I actually paid nothing at all for this item since it happened to be a gift. My shirt features a green check pattern on a white ground, and to go for this more casual feel, it simply has barrel cuffs. My trousers are plain brown and my shoes are a pair of medium brown wingtip Derbies that feature no medallion on the toe. The other vintage item in my ensemble today is my tie, which features a simple repp stripe pattern in orange, green, and buff.

The remainder of my elements today are all from Fort Belvedere, including my two-tone shadow striped socks in medium brown and green, my miniature green carnation boutonniere, and my pocket square in wool silk, in a design we’re calling the art deco scarab pattern in colors of olive green, burnt orange, sunflower yellow, and mohair blue, and featuring a burnt orange contrasting edge. And, of course, for all of the Fort Belvedere accessories I’m wearing in today’s video, as well as a wide variety of others, you can take a look at the Fort Belvedere shop.

What are your thoughts on affordable luxury? Would you spend your money on it? Let’s talk in the comments section!