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Young Consumers Demand Sustainable and Social Responsible Luxury

Author

Listed:
  • Amadea Ruxandra Agapie

    (West University of Timișoara, Faculty of Economics and Business Administration)

  • Gabriela Sîrbu

    (West University of Timișoara, Faculty of Economics and Business Administration)

Abstract

The emerging new generations, such as generations Y and Z, are currently redefining the luxury industry. Consumer behaviours exhibited by these two are mostly influenced by the conditions they evolve in. Nowadays the online and offline mediums are coexisting in a symbiotic relationship that has a great impact on these young purchasers. Their access to information is fairly unlimited and their possibilities expand greater than the ones of any other previous generation. These aspects are making them more aware and responsive to issues such as environmental and social causes. As luxury brands are taking it upon themselves to meet the young consumers' demands, their acknowledged characteristics are also changing as the two cohorts swift in this direction. This paper is mainly concentrated on both academic and business literature review and aims to depict how the two cohorts transform corporate sustainability and responsibility policies into main traits of luxury brands. The topic is part of an ongoing study which, when completed, will be followed by empirical research that focuses on the consumer behaviour of Millennials and Digital Natives and their direct impact on luxury brands.

Suggested Citation

  • Amadea Ruxandra Agapie & Gabriela Sîrbu, 2020. "Young Consumers Demand Sustainable and Social Responsible Luxury," Journal of Emerging Trends in Marketing and Management, The Bucharest University of Economic Studies, vol. 1(1), pages 71-81, August.
    • Handle: RePEc:aes:jetimm:v:1:y:2020:i:1:p:71-81
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    More about this item

    Keywords

    consumer behaviour; luxury brand perception; digital age; generation Y; generation Z; sustainability; social responsibility.;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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