Luxury Consumption Behavior: A Value-Based Segmentation of the US Consumers

Date
2015-11-11
Authors
Manchiraju, Srikant
Diddi, Sonali
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Altmetrics
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Abstract

The USA is the largest consumer of luxury goods (Deloitte, 2014). However, very little is known about ways to market luxury brands (Vigneron & Johnson, 2004). This is especially true in the context of the USA luxury market. To date, few studies have addressed issue of luxury market consumer segmentation within the context of the USA. Therefore, in the present study, attempt is made to segment the USA luxury market based on the Luxury Value Perception (LVP) model proposed by Wiedmann, Hennigs, and Siebels (2009). To our knowledge, this is the first study to exclusively focus on the USA luxury market segmentation based on the LVP model. It is posited that the present study has some theoretical and practical implications.

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