From means to end: Understanding the millennial mind when buying luxury jewelry brands
Issued Date
2023-01-01
Resource Type
ISSN
20932685
eISSN
23254483
Scopus ID
2-s2.0-85134833538
Journal Title
Journal of Global Fashion Marketing
Volume
14
Issue
1
Start Page
35
End Page
47
Rights Holder(s)
SCOPUS
Bibliographic Citation
Journal of Global Fashion Marketing Vol.14 No.1 (2023) , 35-47
Suggested Citation
Ratakam P., Petison P. From means to end: Understanding the millennial mind when buying luxury jewelry brands. Journal of Global Fashion Marketing Vol.14 No.1 (2023) , 35-47. 47. doi:10.1080/20932685.2022.2085606 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/83956
Title
From means to end: Understanding the millennial mind when buying luxury jewelry brands
Author(s)
Author's Affiliation
Other Contributor(s)
Abstract
For those in the luxury fashion industry, the global fine jewelry market has rebounded from the effect of the COVID-19 pandemic due to the participation of millennials. Understanding the attitudes and values that drive millennials’ decision-making processes, as well as acquiring better knowledge of how their needs change, is essential to aid the survival of luxury brands. This research applied the means-end theory as a framework to explore millennials’ preferences regarding the product attributes, benefits, and values that drive purchasing decisions. Thirty Thai millennials participated in the hard laddering interviews. The means-end chains obtained were analyzed using the LadderUX software. Brand, product function, and beauty are the key attributes that drive the purchasing decision, as they have a stronger link to the top values–happiness and self-confidence–of the millennial mindset.