Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
Purpose – Marketing literature considers scarcity a mechanism that increases the desirability of the off er and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connecti...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2019 |
| País: | España |
| Institución: | Universidad de Navarra |
| Repositorio: | Dadun. Depósito Académico Digital de la Universidad de Navarra |
| Idioma: | inglés |
| OAI Identifier: | oai:dadun.unav.edu:10171/62219 |
| Acceso en línea: | https://hdl.handle.net/10171/62219 |
| Access Level: | acceso abierto |
| Palabra clave: | Marketing Scarcity Luxury Millennials Experimental design Nestašica Luksuz Milenijalci Eksperimentalni dizajn |
| Sumario: | Purpose – Marketing literature considers scarcity a mechanism that increases the desirability of the off er and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connecting luxury brands to millennials. Design/methodology/approach – An empirical study based on an experimental design was carried out to test the eff ect of each of the strategies (second line, my luxury, or exclusive selection of cheaper products) on different dimensions of how millennials perceive luxury brands (refi nement, elitism, and hedonism), looking for causality relationships. Findings – The hedonism factor, closely connected with purchase experience, seems to be the most valuable for millennials and best encouraged by the second line strategy. In this way, luxury brands draw millennials into their market in a natural way, through an accessible price. But the second line strategy could imply a process of brand devaluation for the traditional customer base. Limitations – The diff erence in the results obtained using the “current shopping intention” and “future shopping intention” variables deserves more attention. Different ways of measuring future shopping intention could be applied to test the eff ects on the results. Originality/value – A diff erent methodology, that is, an experimental study is presented to compare marketing strategies in the luxury market. In this way, a better relationship between exclusivity and the needs of millennials can be established as regards their attraction to luxury brands. |
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