Why did the shift from conspicuous to inconspicuous consumption occur?

The shift from conspicuous to inconspicuous consumption primarily occurred due to the saturation of logos and branding in the luxury market. As luxury goods became ubiquitous and more brands adopted visible logos as a sign of status, the effectiveness of these symbols diminished. Consumers started to seek differentiation in their purchasing behaviors, leading to a preference for subtler, more understated forms of luxury that reflected wealth and sophistication without the overt display of logos.

This shift represents a cultural change where individuals, especially among the affluent, began to value exclusivity and subtlety over the traditional markers of wealth. Inconspicuous consumption allows for a more nuanced expression of one's socio-economic standing, where the appreciation for craft, heritage, and quality took precedence over the mere display of brand names.

The other options do not capture the core reasoning behind the transition in consumer behavior effectively. Regulations limiting luxury purchases are not a significant factor driving shifts in consumption patterns, nor is it solely about changes in production techniques. The statement regarding the preference for function over status misses the nuance that this shift was much more about the perception of status rather than completely moving away from the concept of status itself in luxury consumption.