Perception of luxury across generations

Abstract

The perception of luxury has been related to high price and exclusivity since ages. This project aims to understand the perception of luxury goods and services across Gen X, Y and Z generations. The scope of the project is limited to only Indian context. The methodology adopted was to refer secondary and primary sources of resources. In primary sources, focussed group discussions, in depth interview and quantitative survey was carried out. The various common attributes and differences were noted from the analysis. The common attributes across the generations for both males and females has been exclusivity, whereas for only females it is expensiveness and superior quality. The common attribute in men across generations is found to be pre purchase guidance. Finally its recommended that for any future luxury goods/ services launch the company should focus on brand, utility, exclusivity, coolness and personal satisfaction for males and exclusivity, brand, younger look and feeling to be for the females.