What drives college-age generation Ys perceived value on high speed rail

Abstract

The need for efficient and sustainable transport infrastructure has led to significant growth in the development of high-speed rail networks. However, the central question for advocates of sustainable transport is how to increase the use of high speed rail. Generation Y (Gen Y) has emerged with youthful values which will rival Baby Boomers' market dominance. The concept of perceived value is closely linked to customers' satisfaction, loyalty, repurchase and profitability. Therefore, the objective of this research is to identify and describe the perceived value drivers of generation Y's perceived value on high speed rail. The data collection in this study was conducted through a series of focus group discussions. Researchers have explored Gen Y members' perceived value and grouped into five dimensions: (1) functional value; (2) social value; (3) emotional value; (4) epistemic value; and (5) conditional value. In this endeavor, the values of this study could offer high speed rail marketers initial insight to encourage Generation Y's use of high speed rail, and further applying in other public transit for the development of sustainable transportation.