Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
Other Titles: 
Nestašica kao poželjna karakteristika luksuznih marki u marketingu usmjerenom milenijalcima
Keywords: 
Marketing
Scarcity
Luxury
Millennials
Experimental design
Nestašica
Luksuz
Milenijalci
Eksperimentalni dizajn
Issue Date: 
2019
Publisher: 
Faculty of Economics and Business, University of Zagreb
ISSN: 
1849-1383
Citation: 
Ballina, J.F. (Javier F.) de la; Ballina, I. (Isabel) de la. "Scarcity as a desirable attribute of luxury fashion brands in millennial marketing". Market-Tržište. 31 (2), 2019, 153 - 170
Abstract
Purpose – Marketing literature considers scarcity a mechanism that increases the desirability of the off er and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connecting luxury brands to millennials. Design/methodology/approach – An empirical study based on an experimental design was carried out to test the eff ect of each of the strategies (second line, my luxury, or exclusive selection of cheaper products) on different dimensions of how millennials perceive luxury brands (refi nement, elitism, and hedonism), looking for causality relationships. Findings – The hedonism factor, closely connected with purchase experience, seems to be the most valuable for millennials and best encouraged by the second line strategy. In this way, luxury brands draw millennials into their market in a natural way, through an accessible price. But the second line strategy could imply a process of brand devaluation for the traditional customer base. Limitations – The diff erence in the results obtained using the “current shopping intention” and “future shopping intention” variables deserves more attention. Different ways of measuring future shopping intention could be applied to test the eff ects on the results. Originality/value – A diff erent methodology, that is, an experimental study is presented to compare marketing strategies in the luxury market. In this way, a better relationship between exclusivity and the needs of millennials can be established as regards their attraction to luxury brands.
Svrha – Marketinška literatura razmatra nestašicu kao mehanizam koji povećava poželjnost ponude i svojstveni atribut luksuznih proizvoda. To tržište treba dosegnuti segment milenijalaca. Cilj je rada razviti odgovarajuću strategiju nestašice za povezivanje luksuznih marki s milenijalcima. Metodološki pristup – Provedeno je empirijsko istraživanje temeljeno na eksperimentalnom dizajnu kako bi se ispitao utjecaj svake strategije (druga linija, moj luksuz ili ekskluzivni izbor jeftinijih proizvoda) na različite dimenzije načina na koje milenijalci percipiraju luksuzne marke (profi njenost, elitizam i hedonizam),u potrazi za uzročno-posljedičnim odnosima. Rezultati i implikacije – Čini se da je čimbenik hedonizma, usko povezan s iskustvom kupovine, najvrjedniji za milenijalce i najbolje ga podupire strategija druge linije. Na ovaj način luksuzne marke privlače milenijalce na svoje tržište prirodnim putem po pristupačnoj cijeni. No, strategija druge linije bi mogla implicirati proces devaluacije marke (pripisivanja negativnih značajki marki) za tradicionalnu bazu potrošača. Ograničenja – Razlika u rezultatima dobivenim varijablama “trenutna namjera kupovine” i “namjera buduće kupovine” zaslužuje više pozornosti. Primijeniti se mogu različiti načini mjerenja namjere buduće kupovine kako bi se istražili učinci na rezultate. Doprinos – Korištena je drugačija metodologija, eksperimentalni dizajn, za usporedbu marketinških strategija na tržištu luksuznih proizvoda. Na ovaj se način može uspostaviti bolji odnos između ekskluzivnosti i potreba milenijalaca zbog njihova privlačenja luksuznim markama.
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