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Factors Affecting Millennials’ Attitudes toward Luxury Fashion Brands: A Cross-Cultural Study

Author

Listed:
  • Regina Burnasheva
  • Yong GuSuh
  • Katherine Villalobos-Moron

Abstract

The millennials are an important cohort in luxury market, because of their purchasing power and the power of social media interaction. However, little is known about factors underlying their attitudes toward luxury fashion brands and online purchase intentions. This study explores whether materialism, a need for uniqueness, susceptibility to informative influence, and social media usage affect millennials’ attitudes toward luxury fashion brands and online purchase intentions. In addition, this research examines cross-cultural differences between Russian and Korean millennials based on four cultural dimensions of Hofstede’s model. The results indicated that all factors significantly related to attitudes towards luxury brands, and this, in turn, positively effect on online purchase intentions. Moreover, the results indicated that millennials from Korea and Russia pursue a need for uniqueness, some differences were revealed regarding materialism, susceptibility to informative influence and social media usage. Theoretical and practical implications are further discussed.

Suggested Citation

  • Regina Burnasheva & Yong GuSuh & Katherine Villalobos-Moron, 2019. "Factors Affecting Millennials’ Attitudes toward Luxury Fashion Brands: A Cross-Cultural Study," International Business Research, Canadian Center of Science and Education, vol. 12(6), pages 69-81, June.
  • Handle: RePEc:ibn:ibrjnl:v:12:y:2019:i:6:p:69-81
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    luxury fashion brands; millennials; materialism; need for uniqueness; susceptibility to informative influence; social media usage;

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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