Abstract
Objective: to investigate whether Millennials are internally consistent and distinguished cohort in terms of the perception of luxury
Methodology: 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.