Downward extensions fuel the continuous growth of the luxury sector and the introduction of product lines at accessible prices. Does this blur the traditional concept of luxury associated with ...expensiveness? Focusing on consumers' perception of the minimum price for a luxury product in 21 categories and seven countries (n=8376), an extreme dispersion across consumers occurs in terms of where luxury begins, with a large majority citing very low price frontiers. Also, each consumer provides consistent answers about the different categories. Such answers indicate that today expensiveness is a relative concept, as is luxury more generally. The degree of immersion in luxury and financial resources influences the luxury price frontier of each consumer. These results suggest a continuum from the “happy few” to the many less privileged. This extreme heterogeneity across consumers is good news for luxury groups. Such heterogeneity offers a large choice for development strategies from traditional luxury to the new luxury.
Young consumers contribute significantly to the growth of luxury consumption worldwide, particularly in the new‐luxury category. Studies addressing personality conditions that influence the ...consumption of new‐luxury brands are still limited. Based on the 3M Model of Motivation and Personality, this study demonstrates that the competitiveness and need for learning personality traits influence bandwagon and snob consumption of new‐luxury brands. The main hypotheses establish that bandwagon and snob consumption are affected positively by the competitiveness personality trait and negatively by the need for learning personality trait. Data were collected through a survey responded by 717 college students, representing young adult group and also distributed in five different Chilean cities. The analysis was carried out using structural equation models. The results confirmed that competitiveness predisposed individuals to conspicuous consumption associated with new‐luxury brands in the clothing, perfume and smartphone categories. Regarding the need for learning trait, only a negative relationship was found in the clothing category but not in the perfume and smartphone categories. This study contributes to extend our understanding of luxury consumption, providing empirical evidence of the effects of psychological conditions on the consumption of new‐luxury goods by young adults.
During the seventeenth and eighteenth centuries ornamental items destined for people, garments and clothing accessories underwent a great change in terms of taste and function in the European novelty ...market. The paper highlights the Italian answer to these changes during the eighteenth and nineteenth centuries, by analysing the language (words, adjectives) adopted to promote and describe 'non-precious' and 'semi-precious' jewels. The study identifies a series of items embodying different standards of quality with respect to those typical of local and traditional jewellery production and representing the first Italian attempt at reinterpreting fashionable accessories in the English and French style. The research also identifies new agents and operators involved in both the manufacture of jewels from alloys and their sale, as well as delineating the progressive, sometimes contested, gradual advance of a new cultural approach to 'non-precious' and 'semi-precious' jewels in Northern Italy.
Conspicuous consumption has been studied in the millennial generation in the United States and Asia; in Latin America, however, it has scarcely been analysed. The purpose of this study is to examine ...whether conspicuous motivations in millennial consumers are more prominent in men than in women associated with the consumption of new luxury goods in Latin America. A survey was developed to measure conspicuous motivation, more specifically, bandwagon and snob effects. It was responded by 712 university students located in five different cities in Chile. The findings of the study showed that the bandwagon and snob motivations were higher in men than in women. Men also showed a greater tendency than women to purchase and use new luxury products in social contexts. These results suggest that managers could adjust their marketing strategies to better target millennial consumers of new luxury products.
Purpose
There is a significant growth in the consumption of new luxury fashion brands in developing price-sensitive markets like India. Not only does this growth demonstrate how the “new” luxury ...brands have become a success, but is also illustrative of the perception and practice of style and status among the middle classes. The purpose of this paper is to argue that the consumer’s attitude for buying a branded product entails the need for uniqueness and self-monitoring. It also contends that gender and age moderate the consumer’s attitude.
Design/methodology/approach
This study employed a self-monitored survey to collect the data from the customers of new luxury fashion retail brand stores in Chennai, India for empirical validation of the model. Data collected from 394 new luxury brands shoppers were analysed using partial least squares structural equation modelling.
Findings
The need for uniqueness and self-monitoring had significant positive influences on social-adjustive attitude and value-expressive attitude. However, the relationship between self-monitoring and value-expressive attitude was weak when compared to other relationships. Significant differences were seen in the strengths of the relationships between gender and age.
Originality/value
New luxury is significantly different from traditional luxury. Analyses regarding age group, gender and attitude can provide unique understanding related to new luxury trends, especially in a price sensitive and emerging market like India. This would help managers in segmenting the market based on consumer demographics, and devise strategies based on their characteristics to influence their attitudes and other behavioural patterns.
This study investigates how the relationships consumers establish with prestigious brands can lead to brand happiness. A study of 545 responses covering 19 global brands assessed consumers' ...perceptions of their relationship with prestigious brands—in both functional and symbolic categories—and brand happiness. Using structural equation modeling and moderation analysis, we show that (1) the prestige associated with brands induces consumers to formulate relationships with those brands and (2) brands' mass prestige (masstige) helps them achieve brand happiness. We show that consumers' attitudes toward luxury brands moderate the masstige–brand happiness relationship. In addition, brand classification (functional vs. symbolic) is an important moderator, with consumers perceiving symbolic brands as more intimate and, thus, as exhibiting more prestige and contributing more to brand happiness than functional brands. The more passionate consumers' relationship with a masstige brand, the happier they are with the brand.
This study applies an environmental psychology approach to understand the impact on consumer emotional reactions and shopping outcomes of store environmental perceptions, within a new luxury retail ...setting. Within this mass-market, highly hedonistic retail context, the study here proposes an extended stimulus-organism-response model. The study examines linkages between consumers' perceptions of retail cues and their emotions and behavioural intentions. Further, the study considers such relationships in different retail settings - shopping malls and urban centres. Results suggest that, in diverse retail settings, consumer emotional reactions to environmental cues may vary, suggesting, in turn, that consumer selection of store settings is likely to be driven by diverse consumer expectations and needs. The study closes with theoretical and managerial implications.
Luxury tourism: where we go from now? Japutra, Arnold; Loureiro, Sandra Maria Correia; Li, Ting (Tina) ...
Asia Pacific journal of tourism research,
08/2022, Letnik:
27, Številka:
8
Journal Article
Recenzirano
This research conducted a systematic review of articles on luxury consumption in tourism, specifically, its conceptualization, pre-consumption influential factors, and post-consumption responses. ...This paper provided an overview of relevant studies, developed a comprehensive framework, and suggested future research avenues. The present review identified that luxury consumption in tourism can be conceptualized into four different areas, which were synthesized into a cohesive framework about its creation, development, and outcome. Then, the present review identified opportunities for future research to build upon, which are breaking the stereotype, improving the "new luxury" research avenue, and developing a more comprehensive framework of luxury tourism.
PurposeThe purpose of this study is uncovering the connotative and symbolic meaning of “luxury-lite brands” 轻奢.Design/methodology/approachApplying mixed methods, this study conducted two studies: (1) ...a semiotic analysis of a focus group discussion and 10 interviews on luxury-lite brands and (2) a content analysis of 248 Weiblog posts from 10 luxury-lite brands in a two-month period.FindingsStudy 1 showed that luxury-lite brands are interpreted as foreign brands that serve people's needs for social presence, and symbolize youthfulness, tastefulness, and aspirations. Other descriptors of luxury-lite brands included unique design, and less than the best quality offered by luxury brand. Study 2 suggested brands are missing out on a wide range of stories that resonate with their core segments in their social media advertising.Practical implicationsBased on the definition of luxury-lite brands in the context of China proposed by the researchers, we recommend that managers broaden topics of stories, make more effort to create desirable symbolic brand meaning, and use social media to excite these young crowds.Originality/valueLuxury-lite brands have been a cultural sign in the Chinese market projected to grow into an over 90 billion USD business by 2025. Therefore, an insightful understanding of the masstige market of China is a must for any Western masstige brand to be successful and competitive.
The late early modern period witnessed critical consumer transitions across Europe. Yet, while the explosion of the material world and the transition from an ‘old luxury’ material culture to a ‘new ...luxury’ model is well documented, our understanding of the underlying value systems of consumer goods is still under‐developed. Building on a database of eighteenth‐century advertisements for household auctions in the London‐based Daily Advertiser, this article maps the value systems that characterized elite secondary markets in London. We find the language of consumption growing in complexity and sophistication as the eighteenth century progressed, but historiographically, key concepts such as fashion and modernity played minor and sometimes unexpected roles. While silverware is traditionally perceived as a store of wealth and marker of status, and hence a textbook ‘old luxury’, in the auction advertisements it is often praised for its design value. Chinaware, often attributed a central role in forging an affordable yet fashion‐sensitive ‘new luxury model’, is paradoxically valued for its age and patina. In fact, the boundaries between ‘new’ and ‘old’ luxuries were never clear‐cut. The intrinsic value of material culture continued to matter, and the language of consumption continued to reproduce social inequalities, much as it did in previous centuries.
