Understanding Generation Z's Influence on the Future of Luxury Brands

Alban Gagnaux

Master's thesis

Adapting to European Gen-Z: The Future of Luxury EVs

Abstract:

Abstract: The goal of this research paper is to analyze and identify the perceptions and expectations of Gen Z regarding luxury cars and to provide luxury automotive OEM recommendations on how to possibly reach Gen Z consumers. The thesis provides a theoretical overview of concepts and theories related to the Gen Z cohort, its characteristics, consumer behavior, and the evolution of the luxury automotive OEM offering. This research paper relies on a qualitative approach, in-depth interviews with Gen Z consumers of European origins and automotive industry experts are combined to reveal Gen Z perception and Luxury EV development. The results of the data analysis are presented and discussed. The results of this study indicate that EVs are perceived positively by Gen Z consumers and that their sustainable and innovative attributes generate positive experiences through technology. While a set of luxury preferences appears shared with previous generations, Gen Z respondents seeked authentic luxury experiences and displays different lifestyle preferences.

Abstract:

Adapting to European Gen-Z: The Future of Luxury EVs Abstract: The goal of this research paper is to analyze and identify the perceptions and expectations of Gen Z regarding luxury cars and to provide luxury automotive OEM recommendations on how to possibly reach Gen Z consumers. The thesis provides a theoretical overview of concepts and theories related to the Gen Z cohort, its characteristics, consumer behavior, and the evolution of the luxury automotive OEM offering. This research paper relies on a qualitative approach, in-depth interviews with Gen Z consumers of European origins and automotive industry experts are combined to reveal Gen Z perception and Luxury EV development. The results of the data analysis are presented and discussed. The results of this study indicate that EVs are perceived positively by Gen Z consumers and that their sustainable and innovative attributes generate positive experiences through technology. While a set of luxury preferences appears shared with previous generations, Gen Z respondents seeked authentic luxury experiences and displays different lifestyle preferences.

Keywords

Consumer Behaviour, European Gen Z, Luxuryv, EV

Keywords

Luxury, EV, Consumer Behaviour, European Gen Z

Language used: English

Date on which the thesis was submitted / produced: 15. 5. 2024

Thesis defence

• Date of defence: 2024
• Supervisor: Martin Machek
• Reader: Arthur Henrique Pontes Martins

Vysoká škola ekonomická v Praze

Master programme:
International Management