This presentation discusses the psychology of luxury competition. It defines luxury as great comfort, elegance, and extravagance associated with high quality exclusive products or services beyond basic needs. Competing in luxury satisfies human urges for status and competition, providing psychological rewards like accomplishment and self-esteem as luxury signifies success. Social comparison theory and social media intensify comparisons as people compare lives and flaunt possessions, influencing perceptions and actions especially regarding luxury brands and status. Maintaining well-being requires balancing competition with strategies like mindfulness, gratitude, and reassessing personal values to guide healthier choices amid luxury allure.