To what extent is the consumer behaviour of Millennials different to that of Generation X in the area of Luxury goods? Similarities and Differences between Generation X and Millennials

Fashion Management

Pearl

β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›

Introduction

β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›

β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›

β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›

πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–

SIMILARITIES

πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–

πŸ’•Both of different generations show some common parts in consumer behaviour of luxury goods.Consumers in the field of luxury goods are defined into three most vital parts:completely luxury goods consumers; sometimes luxury goods consumers and experience luxury goods consumers .These three types people represent over half of the luxury spend. In addition some segmentation are aimed to designer brands such as Prada, Burberry, and LVMH focus on fashion consumers . These firms have higher positioning and benefit from the growing luxury consumer market.These reasons resulted in both of Generation X and Millennials are full of enthusiasm to be a consumer of luxury goods.

❀❀❀Hedonism and utilitarian of luxury goods❀❀❀

❀❀❀Frequency of buying luxury brands❀❀❀

πŸ’•Both of Generation X and Millennials have the same perception of hedonic and the perception of quality value, both of them have the same attitude to consume luxury goods ,besides there is no stable frequency from both the generations to consume luxury goods.

πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–

DIFFERENCES

πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–

πŸ’• Different growing background of Generation X and Millennials lead to different consumer behaviour of luxury goods in some aspects.They have different culture which mixed into their daily life.The main different points include different shopping motive;different consumer emotion ;different influence to buy luxury goods;different place to buy luxury goods and different financial values.

❀❀❀Different Shopping motive❀❀❀

❀❀❀Different Consumer attitude❀❀❀

❀❀❀Different financial values❀❀❀

❀❀❀Different influence to buy luxury brands❀❀❀

❀❀❀Different place to buy luxury brands❀❀❀

β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›

Conclusion

β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›β€πŸ’•πŸ’™πŸ’—πŸ’›

πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•

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πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•

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πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•

Picture references

πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•πŸ’•

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