Factors Affecting Millennials’ Attitudes toward Luxury Fashion Brands: A Cross-Cultural Study

Burnasheva, Regina; GuSuh, Yong; Villalobos-Moron, Katherine

doi:10.5539/ibr.v12n6p69

Cited by 14 publications

(23 citation statements)

References 65 publications

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“…Imran et al (2018) revealed a direct significant relation between materialism and attitude towards purchase behaviour. This finding is corroborated by the past literature, where materialism has been found to exhibit a significant impact on attitude towards buying foreign fashion goods (Park et al, 2007), luxury fashion brands (Burnasheva et al, 2019) and counterfeit apparel (Bakhshian et al, 2019). Gentina et al (2018) asserted that a high concern for materialism leads to a compromise of ethical issues with a view to attain possessions.…”

Section: Collectivism and Attitude Towards Srisupporting

confidence: 74%

Personal values as drivers of socially responsible investments: a moderation analysis

Singh

Mittal

Mehta

et al. 2020

RBF

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PurposeThe present study attempts to analyze if personal values, namely collectivism, materialism and environment attitude, have an impact on attitude to invest in socially responsible investments (SRIs). Second, it examines the impact of attitude on SRI intention which may further be moderated by religiosity beliefs. Third, the moderated relation is further tested separately for two groups of gender.Design/methodology/approachThe study uses cross-sectional data collected from 534 north Indian retail investors. PLS–SEM has been applied in this study using the latest version of SmartPLS (v. 3.2.9) software to examine the complex model of moderation analysis.FindingsThe results of PLS–SEM suggested that collectivism, materialism and environment attitude significantly influenced attitude which further led to SRI intention. The moderating role of religiosity was found to be significant on the attitude–intention relationship. Further, a significantly higher moderation of religiosity was found in females as compared to males.Research limitations/implicationsBesides collectivism, materialism and environmental attitude, there could be other facets of an investor's personality that were not considered in the study. The present research was conducted in India, and Hofstede (1980) calls Indian culture to be collectivistic in nature, where the influence of pro-social and environmental concern on SRI intention is bound to be high; thus, findings need to be tested further at the global level.Practical implicationsCompanies and financial institutions can enlarge their investor base for socially responsible products by propagating tailor-made financial products that can keep the personal values of investors intact in addition to providing satisfactory financial returns. Female investors can be encouraged to invest in SRI by promulgating the aspects of morality and ethics in their marketing and promotion strategies; eventually, this will lead to an upsurge in the proportion of female investors in financial markets.Originality/valueThe present study contributes to the growing body of research in the area of sustainable investments. This research has contributed to building and testing a moderation analysis of attitude–intention relationship with respect to SRI by adding investor's religiosity beliefs and his/her gender as moderating variables to better comprehend the relationships under study.

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Section: Collectivism and Attitude Towards Srisupporting

confidence: 74%

Personal values as drivers of socially responsible investments: a moderation analysis

Singh

Mittal

Mehta

et al. 2020

RBF

View full text Add to dashboard Cite

show abstract

“…However, those studies focused on general consumers and did not specifically understand millennial consumers, who are unique and behave differently. Despite the significant contribution of the millennials' cohort to the luxury brand market (D'arpizio and Levato, 2013), studies examining the factors influencing millennials' attitudes and behavior toward luxury fashion brands are rather limited, especially in the Malaysian context (Burnasheva, GuSuh, and Villalobos-Moron, 2019;Kasuma et al, 2016). Most previous studies attempted to link perceived value, functional value, individual value, and so-cial value to the purchase of luxury brands (Giovannini et al, 2015;Hashim et al, 2019;Kasuma et al, 2016).…”

Section: Introductionmentioning

confidence: 99%

“…More importantly, Chu, Kamal, and Kim (2013) suggested that social media usage would also affect millennials' intentions to purchase luxury products. Burnasheva et al, (2019) also highlighted that social media us-age is different and unique for each country. Besides, in the context of today's digital marketing era and the high dependency of millennials on social media interaction, Burnasheva et al, (2019) and Abubakar, Ilkan, and Sahin (2016) stressed that eWOM significantly affects a consumer's attitude and purchase decision.…”

Section: Introductionmentioning

confidence: 99%

“…Burnasheva et al, (2019) also highlighted that social media us-age is different and unique for each country. Besides, in the context of today's digital marketing era and the high dependency of millennials on social media interaction, Burnasheva et al, (2019) and Abubakar, Ilkan, and Sahin (2016) stressed that eWOM significantly affects a consumer's attitude and purchase decision. Meanwhile, Sijoria, Mukherjee, and Datta (2018) added that eWOM plays a significant role in strengthening brand equity.…”

Section: Introductionmentioning

confidence: 99%

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Millennials' Response Toward Luxury Fashion Brands: The Balance Theory’s Perspective

Shaari

Hamid

Mabkhot

2022

GADJAH MADA INT. J. BUS.

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The mushrooming growth of luxury brands has been evidenced worldwide, especially among developing countries such as Malaysia. Despite Malaysian consumer confidence slowing due to uncertainty about the economic conditions, the demand for luxury brands is still expected to rise. Interestingly, a significant rise in the demand for luxury brands has been observed in the millennials group. This study examines the relationship of electronic word-of-mouth and the country of origin’s image on millennials' attitudes toward luxury brands and the intention to purchase luxury fashion brands. The study among 333 millennials revealed that the country of origin’s image has both direct and indirect effects on the intention to purchase luxury fashion brands. Electronic word-of-mouth (eWOM) was found statistically insignificant in explaining the intention to purchase, but eWOM had a significant relationship on intention to purchase through its mediation effect of the attitude toward luxury brands. Accordingly, the findings found support for the balance theory. The results also suggest that the owners of luxury brands should carefully manage the country of origin because it will affect the overall brand image, as perceived by consumers. Limitations and future directions of the study are also included at the end of the article.

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“…Luxury brands are making their products trendier and more suited to their main target group, millennial consumers, those born between 1980 and 2000 (Lee & Kotler, 2015 ; The Straits Times, 2020 ). Millennials make up an important consumer group for marketers (Burnasheva et al, 2019 ). This is because, especially for luxury goods, millennials have more consumption power than previous consumer generations (Ordun, 2015 ).…”

Section: Introductionmentioning

confidence: 99%

That’s so Gucci: a comparison of cultural values and the influence of perceived values on luxury goods attitudes and purchase intention among Korean and Dutch millennials

Wong

Park

2022

Asian Bus Manage

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Millennials’ increasing interest in luxury goods is extensively changing the luxury landscape. This cross-cultural study obtains a deeper understanding of which value perceptions influence South Korean and Dutch millennial consumers’ purchase intentions for luxury goods. To reflect trends and the characteristics of millennials, this study analyzes four perceived values associated with luxury goods: investment, functional, individual, and social values. The findings reveal similarities and differences in the effect of the four perceived values on attitudes and purchase intention for luxury goods among Korean and Dutch millennials. Four dimensions of individualism versus collectivism (horizontal individualism, vertical individualism, horizontal collectivism, and vertical collectivism) are discussed by comparing cultural differences across the two countries. The results of this study contribute to the fields of luxury goods consumption, luxury consumer behavior, luxury goods marketing, and millennial consumer behavior.

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Factors Affecting Millennials’ Attitudes toward Luxury Fashion Brands: A Cross-Cultural Study

Cited by 14 publications

References 65 publications

Personal values as drivers of socially responsible investments: a moderation analysis

Personal values as drivers of socially responsible investments: a moderation analysis

Millennials' Response Toward Luxury Fashion Brands: The Balance Theory’s Perspective

That’s so Gucci: a comparison of cultural values and the influence of perceived values on luxury goods attitudes and purchase intention among Korean and Dutch millennials

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