Cohort perception of luxury goods and services

Abstract

If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -This research aims to investigate differences between cohorts and perceptions of luxury goods and services. Design/methodology/approach -A survey asked participants to rate goods to determine their perceptions of luxury. Participants also provided information concerning elasticity and motivations for purchasing goods and services. A total of 347 participants in three age groups completed the questionnaire.Findings -The study shows that there are significant differences between cohort groups in their perceptions of luxury goods and services, especially between the oldest and youngest cohorts. The elasticity measures showed that for all three cohorts, certain goods and services were inelastic and, therefore, were considered not to be luxury goods. The reasons why people buy goods they do not need varied between cohorts.Research limitations/implications -The results of the study may not be generalizable to other groups of consumers because it was a convenience sample. Practical implications -The results of this study show that marketers need to tailor messages to individual cohort groups. Consumers' experiences at their "coming of age" do influence perceptions of luxury. There are different motivations for buying among the cohort groups. Identifying and leveraging these motivators in marketing communication will help to target these groups with appropriate messages. Marketers need to understand those motivations and develop communication campaigns that target those groups. Originality/value -Little research has focused on the cohort perception of luxury. Although there is evidence to suggest there will be differences between age groups, this study seeks to investigate those differences to help marketers to tailor their messages more effectively.

What is the Value of Luxury? A Cross‐Cultural Consumer Perspective

“…However, the results provide evidence of differences in the evaluations of these dimensions among nationalities, especially between Eastern and Western cultures (Li & Su, ; Podoshen, Li, & Zhang, ; Shukla, ; Tsai, ). Nevertheless, as revealed by Dubois and Laurent () and Dubois, Laurent, and Czellar () and emphasized by several national studies (e.g., Hauck & Stanforth, ; Tervydyté & Janciauskas, ), the relevance of the four dimensions may also vary within countries but are similar among cross‐cultural segments. Therefore, this study aims to identify whether consumers in different parts of the world buy or wish to buy luxury products for varying reasons; whether they possess similar values; and, regardless of their country of origin, whether their basic motivational drivers may be similar with respect to the financial, functional, personal, and social dimensions of luxury value perceptions, although the relative importance of the different dimensions varies.…”

Do Consumers Care About Ethical-Luxury?

“…The term luxury good, although used in everyday life, is a difficult concept to define, as perceptions of luxury differ according to the consumer's lifestyle (Hauck and Stanforth 2007) and even change depending on an individual's mood (Nia and Zaichhkowsky 2000). A common definition of what constitutes luxury is therefore lacking in the literature (Vickers and Renand 2003).…”

E-commerce: Who is the international consumer of luxury goods? A cross study of e-consumer customization (an empirical approach)

“…Another study discussed the age impact in regard to luxury goods and services [11], using three different age categories, less than 25 years, 25 to 50 years and more than 50 years old. Actually, results showed that the age perception of a luxury good or service is depending on the type of luxury product.…”