The Impact of Status Consumption on Luxury Consumption Behaviors: The Influence of Culture

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Faulk, Don L
Millennial; Status; luxury; consumption; culture; Advertising and Promotion Management; Management Sciences and Quantitative Methods; Marketing; Student Research & Creative Works, University Honors Program, Theses
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Status consumption refers to why people consume luxury products. Over the years a great deal of research has been done as to what factors are linked to status consumption. However there has been little research done on millennial’s status consumption trends. This study examined why millennials consume for status from a cultural angle (individualism and collectivism, power distance, and ethnicity). The survey findings suggest that while the motivation to consume for status and the cultural variable of power distance significantly impacted status purchase intention, individualism/collectivism and ethnicity did not. This study also delves into managerial implications of our results.