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Segmenting Luxury Market Based on the Type of the Luxury Consumed. Empirical Study on Young Female Luxury Consumers

Author

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  • Raluca Ciornea

    (Babes-Bolyai University of Cluj-Napoca, Romania)

  • Marius Dorel Pop

    (Babes-Bolyai University of Cluj-Napoca, Romania)

  • Mihai Florin Bacila

    (Babes-Bolyai University of Cluj-Napoca, Romania)

Abstract

Due to frequent changes in the luxury sector but mostly to its specificity, the answers to two of the most important questions are still controversial: “who is the luxury consumer?”and “how he/she consumes? “. Conducting a study among young female luxury consumers, the main purpose of the paper was to identify the existence of significant differences in luxury products and services consumption. The TwoStep cluster analysis indicated a five cluster solution based on the categories of luxury consumed and the differences were significant as the segments vary from segments of consumers who have only luxury cosmetics/perfumes to segments of consumers who engage in consumption of almost all types of luxury. Unexpected luxury consumers were discovered, with family precarious financial situation that doesn’t stop them to desire and consume luxury – they may engage in trading-up or down actions, consume accessible luxury or even take part to the “sugar daddy” phenomenon. The study is unique by approach and brings significant contribution both to luxury literature and for the luxury business domain.

Suggested Citation

  • Raluca Ciornea & Marius Dorel Pop & Mihai Florin Bacila, 2012. "Segmenting Luxury Market Based on the Type of the Luxury Consumed. Empirical Study on Young Female Luxury Consumers," International Journal of Economic Practices and Theories, Academy of Economic Studies - Bucharest, Romania, vol. 2(3), pages 143-152, July.
    • Handle: RePEc:aes:ijeptp:v:2:y:2012:i:3:p:143-152
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    References listed on IDEAS

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    Cited by:

    1. Raluca CIORNEA, 2021. "Insights Into Women’S Luxury Consumption – A Teenagers Versus Young Adults Comparison," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 7-26, May.

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    More about this item

    Keywords

    luxury consumer; luxury consumption; luxury market segmentation;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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