Understanding the Role of IKEA Portugal’s Brand Values in Shaping the Purchase Decisions of Millennial Consumers

Abstract

This article delves into the considerable influence of generation Y, or millennials, on purchase behaviour and brand interactions. Their focus on creating a better world, combined with their status as digital natives, has spurred changes in e-commerce and corporate practices. This generation prioritises environmental and social concerns, compelling companies to adopt honesty and transparency in their products, processes, and values. Millennials are inclined to support brands that demonstrate social responsibility, sustainability, and ethical practices. Consequently, brand values have become pivotal, shaping consumer perceptions and behaviours. These values reflect the beliefs and principles a brand embodies, significantly impacting consumer perceptions and behaviours toward it. The study aims to investigate how IKEA’s brand values influence the purchase decisions of Portuguese millennial consumers. A questionnaire survey was conducted, employing a quantitative methodology, yielding 402 responses from IKEA consumers. The primary findings reveal that IKEA Portugal’s values notably influence the purchase decisions of millennial consumers, particularly those related to value for money, sustainability, social responsibility, and community support.