The Roles of Consumers Need for Uniqueness and Status Consumption in Haute Couture Luxury Brands

Abstract

Abstract A vast body of knowledge exists regarding the attitudes involved in the consumption of luxury brands. The purchase of products for their symbolic and social value rather than for their inherent utility is now widely recognised as a significant determinant of consumer behaviour (Mason, 1992). With changes in industry trends, gaps in knowledge are created. Thus, it is important to examine luxury brands in relation to uniqueness. Moreover, whether consumers need for uniqueness is in fact a need for status in this younger emerging market (Clark, Zboja, and Goldsmith, 2007). The Australian Generation Y market is a dynamic and extremely competitive environment (Phau and Leng 2008). It encompasses 26% of the adult population (Khoo and Conisbee 2008) with the benefit of offering a market segment open to generalisations. Thanks to a decrease in the affordability of the housing market the average disposable income has increased and as a result Generation Y has enormous spending potential. In 2015 Generatio...