What can I learn from how luxury brands handle pricing and discounts?

Very few brands never discount—only ultra-luxury names like Louis Vuitton and Tiffany’s maintain that position, and they’ve spent decades and massive resources building that brand equity. Tesla is sometimes mentioned, though they adjust pricing differently. The question every artist must ask is: is your brand really at that level? For 99.9% of artists, the answer is no, and that’s not a criticism—it’s reality. Even major retailers and car brands run sales constantly. The smartest approach is to price strategically high, then use discounts as incentives during peak selling times. This isn’t about devaluing your work; it’s about understanding business and human psychology.

---

Asked by general business education · Answered by Patrick Shanahan · art-marketing-podcast · 2020-09-03