Consumer behavior Towards Luxury Clothing in the UK. Introduction

Consumer behavior Towards Luxury Clothing in the UK. Introduction

Consumer behaviors are a critical consideration while developing competitive approaches in an industry. Marketing approaches entails a critical analysis of the available consumers and developing the most appropriate technique to meet the set objectives in the long run. This study is developed bases on high-income millennials (1981-1996) who are usually reserved with their big spending. Accordingly, the paper will explore consumer behaviors based on their spending on luxury spending. The principal objective of the study is to explore a practical marketing approach that is ethically developed and will have a favorable implication on the millennial expenditures in luxury clothing.

The United Kingdom has a large proportion of millennials. Accordingly, the group consists of people between 25 and 35 years and forms a percentage of approximately 13.9% in the United Kingdom. The majority of the millennials are believed to have gained the age of majority during the great depression of 2008. This is considered to have enormous social-economic implications creating more significant interests for analysis (Stewart, 2017). The rationale behind the choice of the millennial group can is based on the existing review that has tried to expound on the implication of the 2008 economic depression, making it a group of interests across the world. Additional to the luxury market segment choice rationale in the study, one of the critical observation of the spending behaviors of market segment aged 23-36 years, is based on the fact that individuals are able to flex their spending behaviors as the majority are in the progressing stages in their career (Wilmoth, 2016). The age allows the individuals to be leading in the luxury goods market share. According to U.K. statistics, 19% of the millennial lives in London. 17% of the total age group is a non-white whole. More than 26% were born outside the country. Significantly, according to labor statistics employment rate of the age group is more than 82% (Pino et al., 2019). While the unemployment rate is less that 4.3% while their major occupations is mainly based on whole sale and retail sector. Accordingly, 40% of the millennial based on the last census re graduate. The choice of the group is a critical consideration as they mainly form the largest consumers of luxury goods in the United Kingdom. Preference of the group on luxury cloth ware is also a crucial consideration that cannot be ignored in the long run (Hussain, Kofinas, and Win, 2017).

Figure 1 Age breakdown of Luxury Buyers in the United Kingdom (globalwebindex.com)

• Millennial Consumer behavior Towards Luxury Clothing

Organizational competitiveness largely depends on the effectiveness of the marketing approaches. Modern marketing strategic approaches have mainly focused on consumer satisfaction ignoring the physiological responses of clients and its importance in the long-run performance of firms. Recent year’s market analysis has focused primarily on market power towards consumers. Consumers have been the vital success factors of organizations significantly (Murphy & Bendell, 2001). In the modern market analysis, individuals can analyze provided products in different dimensions without exclusion of its ethical considerations. Firms within industries’ have led to gradual accounts of the ethical consumers that express the expectations of the consumer’s reviews like environmental degradation factors. The success of the marketing approach significantly entails understanding the client’s needs and considerations that takes ethical consideration (Stewart, 2017).

Online purchases of online goods and services by millennials have created a platform critical for the analysis of their attitudes towards luxury fashion brands especially. Various studies have been developed detailing millennial attitudes towards luxury products in different market segments across the world (Gil et al., 2012; Zhan and He, 2012; Beaudoin et al., 2003). Studies have been developed to analyze the driving consumer attitudes towards luxury brands. Uniqueness, materialism, brand consciousness, susceptibility to influence, social media usage, and experiential needs are among the major factors that significantly affect consumer’s behaviors of luxury goods and services.

• Creation of Millineal Consumer Attitude in the Purchase of luxury Products

Gil et al., 2012 elaborates that the majority of consumer theories and attitudes are developed, explaining how individuals shape their preferences and influences towards certain products in an industry. According to Foxall et al. (2011), consumers judge a product based on its internal and external characteristics and its suitability in meeting the specified needs of a given client. On the other hand, Fishbein and Ajzen (2011) elaborate that existing literature content on the consumer’s attitude as being based on the ability of the goods to satisfy the needs only. The process evaluation of the consumer is presumed that the process evaluation relies singly on consumer cognition. Studies have vigorously defended that the opinions and preferences of the consumers towards luxury products are merely developed based on rational choices. Fishbein and Ajzen (2011), through existing literature, explores that attitudes of consumers are generated based on two primary focus based on product characteristics. The two concepts entail the comparative advantage of product attributes and gauging the brand performance on the existing market or industry. According to Ajzen et al. (2011) elaborates that “belief towards any brand is regulated by the image of the brand in the consumers” minds and the reputation which finally affects the consumer’s attitudes towards the specific brand.”

The Decision-making model is mandatory, with some negative characteristics being replaced by other exceptional attributes. Ruhle et al. (2012) contrary oppose that the decision-making process by the consumers is more complex and cannot be evaluated based on two attributed of only.  Bruin (2012) also elaborates and agrees with an elaboration based on the argument that consumers may disregard brands that do not primarily fail to satisfy their needs by application of compensatory decision rule. Consumer attitudes play a critical role in the determination of the goods and services to be provided in the long run. The competitiveness of marketing approaches significantly depends on the managers to understand the consumers’ needs and perceptions in the long term (Shukla, 2011).

Ethical consideration is a critical factor in the development of marketing behavioral considerations. One of the major assumptions is that ethnically concerned consumers observe various ethical concerns that cannot be ignored in the development of the marketing approaches in the long run (Dubey and Sinha, 2018). The implementation and identification of the ethical consumer approach to be utilized requires a detailed analysis of the specific measures of moral issues and align them with consumers’ behavior. The explanation is based on the assumption that consumers first recognize an issue then evaluates its seriousness and before strategizing the most appropriate course of action. Marketing approaches are critical and should consider the utilization of the most effective measures (Zhan & He, 2012).

• The Theory of Reasoned Action In the purchase of Millennial Luxury Cloths

Understanding consumer consumer’s wants and needs is a critical consideration of the identification of the most appropriate strategic approach towards achieving the set goals. One of the primary concerns that cannot be ignored in the luxury clothing is the importance of consumer behaviors.  According to Fishbein and Ajzen (2011) attitude of the consumer by marketing team entirely relies on how the perception affects the consumer’s actions. They indicate that the “attitude was leading to behavior” link significantly depends on the consumer’s attitude towards certain qualities of luxury goods and products. Theory of Reasoned Action (TRA), however, is developed on the assumption that consumers attitude towards certain behaviors is governed by the expected results towards certain practices (Miller and Mills, 2012). The outcomes are moderated by numerous consumer regulations and norms that fix the overall action to be taken by the consumer. The behavior is significantly affected by other normative beliefs and perceptions of other people in societal settings. Hence, the luxury clothing industry can be inferred that the consumer attitude is affected considerably by numerous expected outcomes and significantly affected by consumer’s intent (Kotler and Armstrong, 2010).

Figure 2 Theory of Reasoned Action – TRA (Tuck and Riley 2017.)

Factors that Determines Performance of Luxury Brands

Luxury clothing purchase, like other goods and services, largely depends on the consumer’s satisfaction level. Previous purchase experiences play a critical role in the determination of the consumer’s choice in the consumption of the provision of goods and services (Srivastava and Sharma, 2013). Accordingly, to increase the spending pattern of millennial spending on luxury clothing, the long lasting experience is a critical consideration should be given more considerable attention.  Consumer brand loyalty actively also plays an essential role in the determination of the level of success of the luxury product. According to Bedard & Tolmie (2018), there is “bandwagon concept” based on the buying of luxury goods and services where the consumers look towards purchasing of luxury products to promote their prestige in the society and for socialization concepts. According to the theory of reasoned actions (TRA), brand loyalty, experience, and communications are critical factors in the determination of the decision-making process by the consumers (Zhan & He, 2012).

• Analysis and discussion of sustainable Marketing Approach in the Luxury brands industry

United Kingdom millennial age group has a consumer volume that significantly contributes to the cloth luxury industry of the United Kingdom. Through a critical analysis of the existing research efforts to comprehend and develop the most effective ethical consumer model, studies have proved it complicated because ethical behaviors are involved as they encompass different moral issues.  However, ethical consumer models have primarily been based on specific business ethical behavior that entails a fair trade. For instance, the Theory of Planned Behaviour (TPB) elaborates on the attitude intentions of people involved, and it’s significant in the long run. The studies are mainly developed on social cognition models that are developed on assumptions that attitude will translate and have a favorable implication on the behavioral intentions of the consumer (Chatzidakis & Mittusis, 2007).

Nevertheless, one of the significant rising issues is the emergence of the attitude-behavioral gaps. This is a situation where consumers preach to be ethical, but their attitude and decisions prove centrally. Accordingly, the models should be refined further to incorporate consumers’ behaviors and ethical considerations in the long run (Kotler and Armstrong, 2010).

• Conclusion and Recommendations

Marketing managers have a critical role in the determination of the level of success of organization strategic approaches. A critical analysis is essential to the formulation and identification of the ideal strategy that will enable a firm to be among the most in the industry. In the marketing of luxury products to the millennial age group, technological considerations are critical (Vigneron and Johnson, 2004). Through a critical analysis of the existing consumer’s theories, understanding customers, and satisfying their wants is essential to the expansion of the luxury clothing sector. The youths purchasing trends entail extensive usage of online platforms. This approach will be more effective in the satisfaction of the clients critical in the market segment development. Collective utilization and understanding of marketing theories will ethically increase their big spending on luxury clothing (Kotler and Armstrong, 2010).

Ethical considerations through ethical marketing measures should be utilized collectively while developing competitive advantages suitable in meeting the millennial target group in the marketing of luxury brands in the United Kingdom Market. The millennial age gaps are mainly associated with the massive utilization of social media channels. The majority has an internet connection and prefers online marketing. The marketing approach utilized in the marketing of luxury products should focus on online platforms. In order for the managers to meet the specified field, there should be a critical consideration of the comprehensive utilization of modern marketing approaches to enhance the firm’s competitiveness. Managers should also focus on their customer satisfaction. Consumer behavioral theories suggest that return clients largely depends on satisfaction for their second purchase (Ha & Janda, 2012).

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