In 2015, the top ten individual luxury brands are Michael Kors, Cartier, Prada, Burberry, Chanel, Rolex, Hermes, Gucci, Louis Vuitton and Tiffany respectively (Foulkes, 2016). A recent study shown that one of the differences between Millennials and Gen X is the level of loyalty to particular brand. Generation X is more loyalty to a luxury brand (Foulkes, 2016). Nevertheless, Millennial consumers are highly brand conscious and tend to be more materialism than Gen X. They are willing to pay for a better taste and lifestyle compare to Gen X. because the millennials widely use social network like Twitter, Facebook and Instagram, they make the purchasing decision per as the suggestion of peer friends. As the Millennials are also called 'Net Generations', they are well-educated, globally aware and technologically users. Accordingly, the Millennials have more options and they are more flexible with diverse choices. Moreover, luxury items are more accessible for the Millennials and they are tend to use more luxury items than Generation X in recent years (Fernandez, 2009).
It has commonly been assumed that consumer behavior is influenced by internal and external factors which are selected into psychological, personal, social and culture. Unfortunately, most of the factors are not controllable for marketers. For instance, In this luxury consumption case, based on age-segmentation, marketers need to find out that how consumer feel about the luxury brand, what they are thinking about the brand and why they choose or purchase the brand (Babu,et al., 2010). Apparently, the Millennials and Gen Xers were born in distinctive culture and environment, the values and educations are not the same. Therefore, the consumer attitude from the Millennials and the Generation X are dissimilar because the social factors are very different from two age groups. Family, reference group and social status are the core element of social factors of consumer behavior.