What is the value of luxury? A cross-cultural consumer perspective

Nadine Hennigs, Klaus-Peter Wiedmann, Christiane Klarmann, Suzane Strehlau, Bruno Godey, Daniele Pederzoli, Agnes Neulinger, Kartik Dave, Gaetano Aiello, Raffaele Donvito, Koyama Taro, Janka Táborecká-Petrovičová, Carmen Rodríguez Santos, Jaehee Jung and Hyunjoo Oh
Additional contact information
Nadine Hennigs: Leibniz Universität Hannover=Leibniz University Hannover
Christiane Klarmann: Leibniz Universität Hannover=Leibniz University Hannover
Suzane Strehlau: UNINOVE - Nove de Julho University [Bauru]
Bruno Godey: Pôle Customer, Retail and Supply Chain - Rouen Business School - Rouen Business School, Pôle Markets, Brands & Experiences - Rouen Business School - Rouen Business School
Daniele Pederzoli: Pôle Customer, Retail and Supply Chain - Rouen Business School - Rouen Business School, Pôle Markets, Brands & Experiences - Rouen Business School - Rouen Business School
Agnes Neulinger: Corvinus University of Budapest
Kartik Dave: BIMTECH - Birla Institute of Management Technology
Gaetano Aiello: UniFI - Università degli Studi di Firenze = University of Florence = Université de Florence
Raffaele Donvito: UniFI - Università degli Studi di Firenze = University of Florence = Université de Florence
Koyama Taro: Chubu University
Janka Táborecká-Petrovičová: UMB - Matej Bel University
Jaehee Jung: University of Delaware [Newark]
Hyunjoo Oh: UF - University of Florida [Gainesville]

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Abstract: International luxury businesses are challenged by the identification and satisfaction of the common needs and desires of global market segments. Although luxury goods have become available to a wider range of consumers, the traditional conspicuous consumption model has been transformed into a new experiential luxury sensibility that is marked by a change in the way that consumers define luxury. Based on an empirical study in collaboration with American, European, and Asian researchers, the results provide evidence that consumers in various parts of the world purchase or wish to purchase luxury products for varied reasons but that such consumers generally possess similar values. Regardless of their countries of origin, the basic motivational drivers of luxury consumers are similar among the financial, functional, personal, and social dimensions of luxury value perceptions, although the relative importance of these dimensions varies.

Date: 2012-12
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Citations: View citations in EconPapers (42)

Published in Psychology and Marketing, 2012, Vol. 29 (n° 12), p. 1018-1034. ⟨10.1002/mar.20583⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00779336

DOI: 10.1002/mar.20583

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