What is the trend of luxury commodity?

Creating limited edition, luxury versions of common commodities (like crude oil) can ignite status-seeking behavior among consumers.

What is the trend of symbolic consumption?

Marketing products as symbols of status rather than strictly functional necessities can lead to high-priced sales and exclusivity in the market.

What is the trend of commodity fetishism?

Packaging commonly replaced commodities in stylized vessels can evoke a sense of fetishization among some consumers who will pay a premium for the product and the status associated with it.

What are the implications for the luxury goods industry?

High-end fashion and accessory brands can create exclusive, limited edition luxury items from common commodities like crude oil to appeal to status-seeking, elite consumers.

What are the implications for the art industry?

The art industry can create pieces that challenge the way society values certain commodities and material objects, shifting focus onto the symbolic and interpretive value of everyday commodities.

What are the implications for the marketing & advertising industry?

Marketing firms can create campaigns that emphasize the symbolic and status-seeking value of commodities, thus creating a cycle of demand and exclusivity among consumers.

Spray on Crude Oil: Cory Ingram's Crude Cologne

Spray on Crude Oil

Cory Ingram's Crude Cologne

lourdes sanchez bayas — March 22, 2008 — Unique

References: urbanpeel

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"Crude" by Cory Ingram is definitely a gift for the person who has everything" says the ad.

This is a bottle of real 50 ml of crude oil packaged in a perfume or cologne bottle. This is a limited edition of 50 bottles which have been "uniquely packaged". The price of this small bottle of crude oil is $280.00. The ad says that this is a gift for the person who has everything and to me that is code for: This item is completely useless except as a symbol of status. Good thing it is a limited edition.

Trend Themes

Luxury Commodity — Creating limited edition, luxury versions of common commodities (like crude oil) can ignite status-seeking behavior among consumers.
Symbolic Consumption — Marketing products as symbols of status rather than strictly functional necessities can lead to high-priced sales and exclusivity in the market.
Commodity Fetishism — Packaging commonly replaced commodities in stylized vessels can evoke a sense of fetishization among some consumers who will pay a premium for the product and the status associated with it.

Industry Implications

Luxury Goods — High-end fashion and accessory brands can create exclusive, limited edition luxury items from common commodities like crude oil to appeal to status-seeking, elite consumers.
Art — The art industry can create pieces that challenge the way society values certain commodities and material objects, shifting focus onto the symbolic and interpretive value of everyday commodities.
Marketing & Advertising — Marketing firms can create campaigns that emphasize the symbolic and status-seeking value of commodities, thus creating a cycle of demand and exclusivity among consumers.

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