Cashmere

Abstract

Purpose – The purpose of this paper is to validate that young American experiencers perceive cashmere as the most luxurious animal fiber, to investigate if because expensive it is perceived as more luxurious (Veblen theory), to learn how they know about its intrinsic values, lastly to explore if articulating the story behind luxury goods can enhance shopping experience, thus building a sustainable competitive advantage for retailers. Design/methodology/approach – This research was conducted using a survey to gather quantitative data followed by focus group. A questionnaire was developed and distributed to a group of almost 200 young American experiencers. Findings – The results show that the subjects had a significant lack of knowledge about the provenance of cashmere (the fibre) and its intrinsic attributes. Once the subjects were told about the characteristics, the provenance and the whole process of the supply chain starting with the farmers combing the goats to the delivery of the end goods, it seems obvious that articulating the story behind luxury goods would enhance the shopping experience and provide a sustainable competitive advantage for retailers. Research limitations/implications – This survey was conducted on a sample of 196 respondents, from one specific geographic area. It would benefit from being extended to a wider scope of demographic and geographic including Europe and Asia. Originality/value – This study supports that time has come for retailers to shift from marketing visual images to the story telling.