First Insights on Peruvian Luxury Consumers

Abstract

Peru is an emerging country showing strong potential for future luxury developments. It already holds luxury regular consumers, mainly in the Lima capital. However, it is currently approached in a standardized process by luxury firms, following what is done in other emerging markets for luxury. To be efficient, it is necessary to get more knowledge about Peruvian consumers. This is what this article aims at. After reviewing the historical background of the country along with its cultural dimensions, we present results from a two-stage analytic process based on data collected from secondary sources and interviews with consumers. We derive from that practical recommendations for luxury managers and propose some research questions and hypotheses to be further explored and tested.