Millennial Consumers Perceptions on Luxury Goods: Capturing Antecedents for Brand Resonance in the Emerging Market Context

Abstract

Research relating to luxury brand resonance has typically focused on millennial consumers in developed countries. This has consequentially caused a lack of theory regarding how millennial consumers in developing countries build brand resonance with luxury brands. To fill this research gap, the current research examines millennial consumers’ characteristics from developing countries. To test our model, we used structural equation modeling with 252 survey samples collected from China in 2019. This research identifies that the characteristics of millennial consumers in developing countries interact with the brand identification process to generate brand resonance. In doing so, this paper is able to identify the characteristics of developing countries millennial consumers. Secondly, this research also identifies that millennial consumers in developing countries are a unique cohort who have their own brand identification and assessment process. This study directs the way firms enable brand resonance for millennial consumers in developing countries.