Luxury Consumer Behavior in Digital World

XINNI LUO

Bachelor's thesis

Abstract:

With the changing of time and the development of economy, people's growing demand for a better life is increasing. A market with luxury goods is booming. With the rapid rise of social media and millennial consumers, luxury companies have begun to actively explore suitable online channels and other digital tools as social media inserted to its business model. Based on the consumer behavior, luxury marketing, social media and globalization theories, this study conducted research and analysis of consumer’s attitude and behavior towards the luxury brand’s new digital marketing model. Gucci and Prada were focused as case studies to explore the influence of social media on the consumer behaviors in luxury retail. According to the real-time full data research analysis and market research sample analysis of the case studies, it concluded that effective digital marketing integrated in social media will better promote the awareness of the brand value. The interactivity between luxury brands and their customers can influence customers’ purchasing decisions. Luxury companies need to work on a reasonable omni-channel strategy to satisfy the increasing consumer demands.

Keywords

Luxury companies, Digital marketing, Consumer behavior, Luxury consumer, Gucci, Prada, Social media, Millennials, Instagram, Consumer brand interaction

Language used: English

Date on which the thesis was submitted / produced: 9. 4. 2021

Thesis defence

• Supervisor: Ing. Lenka Platilová Vorlíčková
• Reader: Matěj Klukan, Ing.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme / field:
Economics and Management / Economics and Management