Developing a Shopper Typology of Millennial Luxury Consumers Using a Holistic Systems Framework
The purpose of this study was to develop a shopper typology of the luxury millennial consumer segment based on a holistic system perceptive. For this study, the human ecosystem framework, a version of general systems theory, was utilized to gain a better understanding of the system of the millennial luxury consumer. A quantitative study was developed, first with a pretest sample and then with a larger national sample of millennial luxury consumers using an online survey. Latent profile analyses was then conducted and revealed a four-class solution as best fit for describing millennial luxury shoppers. The four classes included: (LC1) The Image-Driven Luxury Shopper, (LC2) The Hyper-Social Luxury Shopper, (LC3) The Values-Driven Luxury Shopper, and (LC4) The “I Want it All” Luxury Shopper. Results of the current study provide industry executives in-depth information on customer profiles which includes shopping and product preferences, motivations, and customer expectations.
Keywords: luxury, systems theory, millennial, shopper typology
How to Cite:
Slaton, K. & Hurst, J. L., (2022) “Developing a Shopper Typology of Millennial Luxury Consumers Using a Holistic Systems Framework”, International Textile and Apparel Association Annual Conference Proceedings 79(1). doi: https://doi.org/10.31274/itaa.15737