Luxury Consumption in Emerging Markets

Melika Husić-Mehmedović, Nikolai Ostapenko and Muris Cicic

Chapter 5 in The Changing Nature of Doing Business in Transition Economies, 2011, pp 68-86 from Palgrave Macmillan

Abstract: Abstract The global luxury market, with its huge and widespread appeal and unparalleled glamor, increasingly captivates the attention of academicians and retail business analysts. Even though its relatively flexible boundaries make it difficult to evaluate separately from general consumer market shifts, the luxury goods market is experiencing spectacular structural changes, mostly under the pressure of recent recession-inspired negative consumer sentiment and “guilt” feelings. Additionally, there are serious geographical differences among markets and customers in the global luxury segment that deserve special attention (Dubois and Paternault, 1997). Issues related to the definition of luxury consumption and its structure, motivational drivers and dynamics in the post-socialist consumer fragmented markets of the former Yugoslavia and Soviet Union are the focus of such attention.

Keywords: United Arab Emirate; Shadow Economy; Luxury Good; Balkan Country; Luxury Consumption (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-33701-5_5

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DOI: 10.1057/9780230337015_5

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