carcity as a Desirable Attribute of Luxury Fashion Brands in Millennial Marketing

Abstract

Purpose-Marketing literature considers scarcity a mechanism that increases the desirability of the off er and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connecting luxury brands to millennials. Design/methodology/approach-An empirical study based on an experimental design was carried out to test the eff ect of each of the strategies (second line, my luxury, or exclusive selection of cheaper products) on diff erent dimensions of how millennials perceive luxury brands (refi nement, elitism, and hedonism), looking for causality relationships. Findings-The hedonism factor, closely connected with purchase experience, seems to be the most valuable for millennials and best encouraged by the second line strategy. In this way, luxury brands draw millennials into their market in a natural way, through an accessible price. But the second line strategy could imply a process of brand devaluation for the traditional customer base. Limitations-The diff erence in the results obtained using the "current shopping intention" and "future shopping intention" variables deserves more attention. Sažetak Svrha-Marketinška literatura razmatra nestašicu kao mehanizam koji povećava poželjnost ponude i svojstveni atribut luksuznih proizvoda. To tržište treba dosegnuti segment milenijalaca. Cilj je rada razviti odgovarajuću strategiju nestašice za povezivanje luksuznih marki s milenijalcima. Metodološki pristup-Provedeno je empirijsko istraživanje temeljeno na eksperimentalnom dizajnu kako bi se ispitao utjecaj svake strategije (druga linija, moj luksuz ili ekskluzivni izbor jeftinijih proizvoda) na različite dimenzije načina na koje milenijalci percipiraju luksuzne marke (profi njenost, elitizam i hedonizam),u potrazi za uzročno-posljedičnim odnosima. Rezultati i implikacije-Čini se da je čimbenik hedonizma, usko povezan s iskustvom kupovine, najvrjedniji za milenijalce i najbolje ga podupire strategija druge linije. Na ovaj način luksuzne marke privlače milenijalce na svoje tržište prirodnim putem po pristupačnoj cijeni. No, strategija druge linije bi mogla implicirati proces devaluacije marke (pripisivanja negativnih značajki marki) za tradicionalnu bazu potrošača. Ograničenja-Razlika u rezultatima dobivenim varijablama "trenutna namjera kupovine" i "namjera buduće

Scrutinizing the effects of pop-up stores’ retailscape on young Chinese tourists’ emotion and patronage intention

“…It is, thus, important to understand the mindset of those young Chinese as their needs, preferences and impetuses for the consumption of such merchandise could be very different from the ones of those older generations (Dimock, 2018; Iorgulescu, 2016). For instance, customers of younger generation tend to consider exclusivity and scarcity of a luxury product as more important than it is a concern to those mature customers (De La Ballina and De La Ballina, 2019). In addition, the younger patrons seem to be more easily driven by emotional hedonic stimulus compared to the older generations (Chen and Fiore, 2017).…”