Motivational drivers behind second-hand luxury consumption: a Qualitative Exploration of Consumption Motivations in Finland
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School of Business |
Bachelor's thesis
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Authors
Date
2017
Department
Major/Subject
Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
47
Series
Abstract
Objectives The main objectives of this study were to find out the motivational drivers behind second-hand consumption, luxury consumption and finally, second-hand luxury consumption. The first two were investigated in the literature review, and the motivational drivers behind second-hand consumption were researched through a qualitative exploration. Summary Luxury consumption is no longer restricted to brand new luxury goods. Instead, the resale of luxury goods is further increasing. Therefore, a need for a better understanding of the consumer segment participating in this new retail market exists. After exploring the motivational drivers behind both second-hand and luxury consumption, five fashion-conscious Finnish women were interviewed on their second-hand luxury consumption habits to explore the motivational drivers of the consumers. Conclusions The results of this study showed consistency with the literature on second-hand consumption and luxury consumption. Based on the results it can be concluded that product-related, social and personal factors drive second-hand luxury consumption. The findings of this study suggest that second-hand luxury consumers are motivated by a combination of these drivers. On the contrary, the study raises the issue of inauthenticity as a negative influencer of second-hand luxury consumption. Finally, even though eco-consciousness did not directly affect second-hand luxury consumption, the findings of this study show support for the circular economy -phenomenon.Description
Thesis advisor
Turunen, LindaKeywords
luxury, second-hand, consumer behavior, circular economy