New forms of luxury consumption in the sharing economy

This study contributes to literature on luxury in the sharing economy by holistically examining new forms of luxury consumption which includes on-demand and the product-service economy, second-hand consumption, and co-ownership. Twenty-five depth semi-structured interviews with consumers reveal that the concept of luxury is disrupted in these new luxury contexts. Specifically, the findings challenge the traditional view of ownership as the ultimate form of luxury, and demonstrate the appeal of the temporality reflected in new forms of luxury consumption. Two types of sharing emerge-simultaneous versus sequential- each has its own challenges and opportunities. The findings identify value hedonism, hedonistic egoism, and hedonic escalation as drivers of such consumption, thereby contributing a deeper understanding of the complex nature of hedonism in new forms of luxury consumption. This research empirically supports a more inclusive, less elitist conceptualization of luxury and discusses implications for luxury brands.