From means to end: Understanding the millennial mind when buying luxury jewelry brands
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...
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| Format: | Article |
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2023
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| Online Access: | https://repository.li.mahidol.ac.th/handle/123456789/83956 |
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| Institution: | Mahidol University |
| Summary: | 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. |
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