Millennials’ perception of luxury online - the older the better?
(2021) BUSN39 20211Department of Business Administration
- Abstract
- Purpose: The purpose of this study is to develop an understanding of consumers' perception of heritage in luxury brands online. This will be investigated from a consumer perceived value perspective, with regard to the following aspects of value; social, economic, functional and affective.
Methodology: An epistemological and ontological foundation guides the research approach of qualitative sort.
The study has been conducted through semi-structured focus groups and individual interviews.
Findings: Heritage was perceived by consumers on all websites however different stewardship aspects were stronger on some of the websites than others. Moreover, the respondent did not seem to be fully satisfied in regard to how the different aspects... (More) - Purpose: The purpose of this study is to develop an understanding of consumers' perception of heritage in luxury brands online. This will be investigated from a consumer perceived value perspective, with regard to the following aspects of value; social, economic, functional and affective.
Methodology: An epistemological and ontological foundation guides the research approach of qualitative sort.
The study has been conducted through semi-structured focus groups and individual interviews.
Findings: Heritage was perceived by consumers on all websites however different stewardship aspects were stronger on some of the websites than others. Moreover, the respondent did not seem to be fully satisfied in regard to how the different aspects of heritage was activated, placed and communicated, hence they agreed that more could have been done to create more of an experience, and make the website stand out in comparison to other non-luxury e-commerce sites. Heritage is important for all types of luxury fashion brands, however, to a decreasing degree, and the heritage is less significant for the more contemporary luxury brands than for the oldest ones in the online setting. The aspects of value were subjective to the interviewees; thus, all aspects were affected by heritage.
Research implications/limitations: With this research, we developed an understanding of the role of heritage
among luxury fashion brands online. Through a foundation of existing literature, the study contributes within the field of luxury branding and consumers' perceived value, namely consumers' perception of luxury and heritage within e-commerce. It adds on Wuestefeld et al’s (2012) study on the subject by including the more contemporary setting and sample, which in many cases is described as the future of luxury retail. Further research is needed with larger samples, in other cultural and industrial contexts, and both within qualitative and quantitative research.
Practical implications: Through understanding how different aspects of the value perception are affected by the inclusion of heritage through e-commerce, managers can make appropriate decisions for their luxury brands
online. Knowing the consumer value in detail can help managers make valuable strategic decisions and optimize online performance.
Originality/value: The originality and value of this research lies in the millennial perspective of heritage on ecommerce websites among luxury brands. Despite the growth of luxury e-commerce, little research has been made on how heritage affects consumer perception of luxury online. Hence, this helps brands develop their websites in a relevant way without losing their historical roots but still staying relevant (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9058558
- author
- Gripwall, Johanna LU and Marcusson, Johanna LU
- supervisor
- organization
- course
- BUSN39 20211
- year
- 2021
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Heritage, Luxury, E-commerce, Consumer Perceived Value
- language
- English
- id
- 9058558
- date added to LUP
- 2021-06-29 14:21:45
- date last changed
- 2021-06-29 14:21:45
@misc{9058558,
abstract = {{Purpose: The purpose of this study is to develop an understanding of consumers' perception of heritage in luxury brands online. This will be investigated from a consumer perceived value perspective, with regard to the following aspects of value; social, economic, functional and affective.
Methodology: An epistemological and ontological foundation guides the research approach of qualitative sort.
The study has been conducted through semi-structured focus groups and individual interviews.
Findings: Heritage was perceived by consumers on all websites however different stewardship aspects were stronger on some of the websites than others. Moreover, the respondent did not seem to be fully satisfied in regard to how the different aspects of heritage was activated, placed and communicated, hence they agreed that more could have been done to create more of an experience, and make the website stand out in comparison to other non-luxury e-commerce sites. Heritage is important for all types of luxury fashion brands, however, to a decreasing degree, and the heritage is less significant for the more contemporary luxury brands than for the oldest ones in the online setting. The aspects of value were subjective to the interviewees; thus, all aspects were affected by heritage.
Research implications/limitations: With this research, we developed an understanding of the role of heritage
among luxury fashion brands online. Through a foundation of existing literature, the study contributes within the field of luxury branding and consumers' perceived value, namely consumers' perception of luxury and heritage within e-commerce. It adds on Wuestefeld et al’s (2012) study on the subject by including the more contemporary setting and sample, which in many cases is described as the future of luxury retail. Further research is needed with larger samples, in other cultural and industrial contexts, and both within qualitative and quantitative research.
Practical implications: Through understanding how different aspects of the value perception are affected by the inclusion of heritage through e-commerce, managers can make appropriate decisions for their luxury brands
online. Knowing the consumer value in detail can help managers make valuable strategic decisions and optimize online performance.
Originality/value: The originality and value of this research lies in the millennial perspective of heritage on ecommerce websites among luxury brands. Despite the growth of luxury e-commerce, little research has been made on how heritage affects consumer perception of luxury online. Hence, this helps brands develop their websites in a relevant way without losing their historical roots but still staying relevant}},
author = {{Gripwall, Johanna and Marcusson, Johanna}},
language = {{eng}},
note = {{Student Paper}},
title = {{Millennials’ perception of luxury online - the older the better?}},
year = {{2021}},
}