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The Profile Of Luxury Products Consumer: The Romanian Case

Author

Listed:
  • Amalia DUTU

    () (Faculty of Economics and Law, University of Pitesti, Romania)

  • Otilia OLTEANU

    () (Faculty of Economics and Law, University of Pitesti, Romania)

Abstract

The future of the market is connected to the fast changing trends in customers profile and behaviours. Thus, luxury companies have started to be focused on a new consumer class that is rising nowadays and will be relevant within the close future. That is way; companies are strategically focused on understanding and attracting the younger segments of the population as Gen Z: the customers of the future. Any way the concept of luxury is debatable and depends on countries, social values and life style, culture factors etc. Even if the Romanian luxury market is still under development in the context of the low income of Romanian consumers in comparison to the West European citizens, there is a lot of growth potential. Thus, the aim of this research paper is to measure the Romanian consumers’ perception of luxury brands correlated to independent variables as: gender, education, monthly revenue and age and, thus, to identify a consumer typology in this respect. In order to achieve the purpose of the research study a consumer survey was conducted in Arges County. The results of the study relived the fact that luxury perception vary on a great extent due to age, education, level of income and cultural context.

Suggested Citation

  • Amalia DUTU & Otilia OLTEANU, 2019. "The Profile Of Luxury Products Consumer: The Romanian Case," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 18(2), pages 48-59.
  • Handle: RePEc:pts:journl:y:2019:i:2:p:48-59
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    File URL: http://economic.upit.ro/repec/pdf/2019_2_6.pdf
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    References listed on IDEAS

    as
    1. Bruno Godey & Daniele Pederzoli & Gaetano Aiello & Raffaele Donvito & Klaus-Peter Wiedmann & Nadine Hennigs, 2013. "A cross-cultural exploratory content analysis of the perception of luxury from six countries," Post-Print hal-00956659, HAL.
    2. Grossman, Gene M & Shapiro, Carl, 1988. "Counterfeit-Product Trade," American Economic Review, American Economic Association, vol. 78(1), pages 59-75, March.
    3. H. Leibenstein, 1950. "Bandwagon, Snob, and Veblen Effects in the Theory of Consumers' Demand," The Quarterly Journal of Economics, Oxford University Press, vol. 64(2), pages 183-207.
    4. Jean-Noël Kapferer & Vincent Bastien, 2009. "The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands," Post-Print hal-00786813, HAL.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Luxury products; Luxury perception; Luxury consumers’ profile; Romanian case.;

    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

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