Consumer Value Creation in the Consumption of Luxury Goods: A Consumer Perspective
Benvie-Ferreiros, Lidia (2008) Consumer Value Creation in the Consumption of Luxury Goods: A Consumer Perspective. [Dissertation (University of Nottingham only)] (Unpublished)
The globalisation of the luxury market has presented the industry with an ever expanding and broad range of global consumers that are facilitating significant growth to the industry. In light of the downturn in Western economies, the extension and demand for luxury goods in booming Eastern economies present the luxury industry with a rosy future, estimated to be worth over $450 billion by 2012. The nature of this growth has been down to changing consumption behaviour of consumers; no longer exclusively for the wealthy, the market for luxuries is increasingly evident in both middle- and lower-income brackets. This has been the result of numerous demographic, socio-economic and global trends within the industry and its expansion into the markets of developing countries. In light of this evidence, indicating the extreme demand and influence of this industry, it is surprising that little has been written on the topic by academics.
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