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From means to end: Understanding the millennial mind when buying luxury jewelry brands

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  • Pavida Ratakam
  • Phallapa Petison

Abstract

For those in the luxury fashion industry, the global fine jewelry market has rebounded from the effect of the COVID-19 pandemic due to the participation of millennials. Understanding the attitudes and values that drive millennials’ decision-making processes, as well as acquiring better knowledge of how their needs change, is essential to aid the survival of luxury brands. This research applied the means-end theory as a framework to explore millennials’ preferences regarding the product attributes, benefits, and values that drive purchasing decisions. Thirty Thai millennials participated in the hard laddering interviews. The means-end chains obtained were analyzed using the LadderUX software. Brand, product function, and beauty are the key attributes that drive the purchasing decision, as they have a stronger link to the top values – happiness and self-confidence – of the millennial mindset.

Suggested Citation

  • Pavida Ratakam & Phallapa Petison, 2023. "From means to end: Understanding the millennial mind when buying luxury jewelry brands," Journal of Global Fashion Marketing, Taylor & Francis Journals, vol. 14(1), pages 35-47, January.
    • Handle: RePEc:taf:rgfmxx:v:14:y:2023:i:1:p:35-47
    DOI: 10.1080/20932685.2022.2085606
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