How does Gen Z's purchase behaviour towards luxury differ from that of Millennials?
Authors
Turco, Riccardo ; Carlomagno, Melissa
Term
4. Semester
Publication year
2023
Submitted on
2023-05-29
Pages
83
Abstract
Dette speciale undersøger, hvordan Generation Z’s købsadfærd på luksusområdet adskiller sig fra Millennials’. Udgangspunktet er luksusmarkedets kraftige vækst og den stigende betydning af yngre forbrugere. Studiet kombinerer et systematisk litteraturreview om generationskendetegn og luksusforbrug med en kvantitativ spørgeskemaundersøgelse. Spørgeskemaet måler drivkræfter for købsintention på tværs af symbolske motiver (fx selvudtryk, behov for at slippe væk, impulsivitet, social status, eksklusivitet, kundeoplevelse) og funktionelle motiver (fx oplevet kvalitet, oplevet risiko, oplevet værdi og reaktion på salgsfremmende tiltag). Ved at sammenholde svar på tværs af de to alderskohorter kortlægger undersøgelsen ligheder og forskelle i, hvad der motiverer luksuskøb. De detaljerede resultater præsenteres i den fulde analyse; overordnet er målet at give et datadrevet grundlag for, at luksusbrands kan tilpasse produkter og kommunikation til Gen Z og Millennials, samt at bidrage til den akademiske forståelse af generationsbestemte drivkræfter i luksusforbrug.
This thesis examines how Generation Z’s luxury purchase behavior differs from that of Millennials. Motivated by the rapid growth of the global luxury market and the rising influence of younger consumers, the study combines a systematic review of research on generational traits and luxury consumption with a quantitative survey. The survey captures drivers of purchase intention across symbolic motives (e.g., self-expression, need to escape, impulsiveness, social status, exclusivity, customer experience) and functional motives (e.g., perceived quality, perceived risk, perceived value, and responsiveness to sales promotions). By comparing responses across the two cohorts, the study maps similarities and differences in what motivates luxury purchases. While detailed results are presented in the full analysis, the overall aim is to provide an evidence-based foundation for luxury brands to tailor offerings and communications to Gen Z and Millennials and to advance academic understanding of generational drivers of luxury consumption.
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