Are Millennials a Global Cohort? Evidence from the Luxury Goods Sector
Are Millennials a Global Cohort? Evidence from the Luxury Goods Sector

Summary/Abstract: Objective: to investigate whether Millennials are internally consistent and distinguished cohort in terms of the perception of luxuryMethodology: mixed: the international e-survey results, conducted in 5 different countries(Poland, Portugal, Turkey, Germany and Saudi Arabia, 1193 responses) and 4 FGI, conducted in the groups of younger and older Millennials in Poland and Portugal. Findings: Millennials demonstrate strong country–specific differences in evaluating luxury value drivers; from avowed hedonic status-seekers (mainly Saudi Arabians), through moderately enthusiastic luxury products admirers (Portuguese, Turkish, Polish) to stand-outs,individualists who contest the overall CVPL as represented mostly by Germans. The evaluation of luxury is not cohort-specific but rather a matter of the family and material status strengthened by socio-cultural pressure.Value Added: Global consumption behavioral patterns regarding luxury are permeated bylocal cultural influences, but are not global cohorts’ specific, due to their internal cultural,age, income and family status diversity. Recommendations: Communication strategies in a luxury sector should be adjusted moreto the country-specific and less to the specific needs of global cohorts.

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