Sustainable Luxury Consumers’ Preferences and Segments: Conjoint and Cluster Analyses

Wen-Yun Chang, Viriya Taecharungroj and Supara Kapasuwan
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Wen-Yun Chang: Business Administration Division, Mahidol University International College, Nakhon Pathom 73170, Thailand
Viriya Taecharungroj: Business Administration Division, Mahidol University International College, Nakhon Pathom 73170, Thailand
Supara Kapasuwan: Business Administration Division, Mahidol University International College, Nakhon Pathom 73170, Thailand

Sustainability, 2022, vol. 14, issue 15, 1-16

Abstract: Sustainable luxury is an emerging concept that has gained traction in the industry. However, limited studies have explored the preferences of consumers towards sustainable luxury products. Therefore, the first objective of this research was to identify the sustainable luxury attributes that appeal to the consumers, while the second objective was to segment consumers based on their sustainability and luxury preferences. Data were collected from 354 consumers in Thailand and Taiwan; preferences were determined using a choice-based conjoint analysis. K-means clustering was performed to identify sustainable luxury consumers as customizers, perfectionists, legacy lovers, zero-waste warriors, transparency trackers, and green operators. This research is the first to shed light on the multiplicity of sustainable luxury consumers. It also indicates the role of sustainable information in decision making.

Keywords: sustainability; luxury consumers; sustainable luxury; jewelry; conjoint analysis; cluster analysis (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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