<abstract xmlns="http://www.w3.org/1999/xhtml"><bold>Objective:</bold> to investigate whether Millennials are internally consistent and distinguished cohort in terms of the perception of luxury<bold>Methodology:</bold> mixed: the international e-survey results, conducted in 5 different countries (Poland, Portugal, Turkey, Germany and Saudi Arabia, 1193 responses) and 4 FGI, conducted in the groups of younger and older Millennials in Poland and Portugal.<bold>Findings:</bold> Millennials demonstrate strong country–specific differences in evaluating luxury value drivers; from avowed hedonic status-seekers (mainly Saudi Arabians), through moderately enthusiastic luxury products admirers (Portuguese, Turkish, Polish) to stand-outs, individualists who contest the overall CVPL as represented mostly by Germans. The evaluation of luxury is not cohort specific but rather a matter of the family and material status strengthened by socio-cultural pressure.<bold>Value Added:</bold> Global consumption behavioral patterns regarding luxury are permeated by local cultural influences, but are not global cohorts’ specific, due to their internal cultural, age, income and family status diversity.<bold>Recommendations:</bold> Communication strategies in a luxury sector should be adjusted more to the country-specific and less to the specific needs of global cohorts.</abstract>

Objective: to investigate whether Millennials are internally consistent and distinguished cohort in terms of the perception of luxuryMethodology: mixed: the international e-survey results, conducted in 5 different countries (Poland, Portugal, Turkey, Germany and Saudi Arabia, 1193 responses) and 4 FGI, conducted in the groups of younger and older Millennials in Poland and Portugal.Findings: Millennials demonstrate strong country–specific differences in evaluating luxury value drivers; from avowed hedonic status-seekers (mainly Saudi Arabians), through moderately enthusiastic luxury products admirers (Portuguese, Turkish, Polish) to stand-outs, individualists who contest the overall CVPL as represented mostly by Germans. The evaluation of luxury is not cohort specific but rather a matter of the family and material status strengthened by socio-cultural pressure.Value Added: Global consumption behavioral patterns regarding luxury are permeated by local cultural influences, but are not global cohorts’ specific, due to their internal cultural, age, income and family status diversity.Recommendations: Communication strategies in a luxury sector should be adjusted more to the country-specific and less to the specific needs of global cohorts.

Are Millennials a Global Cohort? Evidence from the Luxury Goods Sector

Poznań University of Economics and Business

Journal of Intercultural Management

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Are Millennials a Global Cohort? Evidence from the Luxury Goods Sector"}

Objective: to investigate whether Millennials are internally consistent and distinguished cohort in terms of the perception of luxuryMethodology: mixed: the...

Are Millennials a Global Cohort? Evidence from the Luxury Goods Sector

Online veröffentlicht: 29. Okt. 2018

Seitenbereich: 139 - 158

DOI: https://doi.org/10.2478/joim-2018-0012

Schlüsselwörter
Consumer value perception, luxury goods, Generation Y, Generation X, Millennials, hedonic value, social value

© 2018 Beata Stępień et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Are Millennials a Global Cohort? Evidence from the Luxury Goods Sector

Online veröffentlicht: 29. Okt. 2018

Seitenbereich: 139 - 158

DOI: https://doi.org/10.2478/joim-2018-0012

SchlüsselwörterConsumer value perception, luxury goods, Generation Y, Generation X, Millennials, hedonic value, social value

© 2018 Beata Stępień et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Schlüsselwörter
Consumer value perception, luxury goods, Generation Y, Generation X, Millennials, hedonic value, social value