scholarly journals RESSO: a social media network for luxury retail

2021 ◽  
Author(s):  
Asma Arslan

This Major Research Project investigates the role of social media to fill the gap created in online and offline dynamics of Luxury Industry over the recent years. This gap is evident in the fact that 75% research about a purchase is done online but online sales bring are only a mere 6%. Psychological study of luxury brand consumers informs the aim of luxury brands to mainly deliver status elevation, social stratification and internal satisfaction. Resso is a project inspired by the psychological objectives of luxury consumers and online consumers decision journey referred to as CDJ. Resso is an online hybrid luxury market place which is a highly interactive social media network where users shop luxury goods. They also receive luxury client services, offers, access to latest reviews and YouTube influencers linked to each product. Users make real connections with each other and an option to give and track charity on one digital platform. The paper will discuss theories of luxury brand management, present digital scenario, the design structure and affordances of the project Resso.

2021 ◽  
Author(s):  
Asma Arslan

This Major Research Project investigates the role of social media to fill the gap created in online and offline dynamics of Luxury Industry over the recent years. This gap is evident in the fact that 75% research about a purchase is done online but online sales bring are only a mere 6%. Psychological study of luxury brand consumers informs the aim of luxury brands to mainly deliver status elevation, social stratification and internal satisfaction. Resso is a project inspired by the psychological objectives of luxury consumers and online consumers decision journey referred to as CDJ. Resso is an online hybrid luxury market place which is a highly interactive social media network where users shop luxury goods. They also receive luxury client services, offers, access to latest reviews and YouTube influencers linked to each product. Users make real connections with each other and an option to give and track charity on one digital platform. The paper will discuss theories of luxury brand management, present digital scenario, the design structure and affordances of the project Resso.


Author(s):  
Esra Arıkan

The extant research highlights that the strength of consumer-brand relationships is very much shaped by consumers' experiences with brands. Given the inherent characteristics of luxury brands, it is no surprise that luxury consumers expect much more intense experiences, and thus the delivery of a superior brand experience is a necessity in the luxury market. Therefore, both marketing scholars and brand managers in the luxury market need to acknowledge the power of brand experiences as a way to strengthen consumer-brand relationships. However, despite the need for a deeper understanding of brand experience in the context of luxury brands, still much remains unknown regarding the factors that can be used to enhance brand experience. Building on this gap in the literature, this chapter investigates the relational outcomes of brand experience and subsequently discusses the various drivers that luxury brands can use to enhance luxury brand experience and thus develop stronger consumer-brand relationships.


2015 ◽  
Vol 19 (4) ◽  
pp. 416-429 ◽  
Author(s):  
Salah Hassan ◽  
Melika Husić-Mehmedović ◽  
Philippe Duverger

Purpose – Despite the changing conditions worldwide, some global luxury brands have attained strong performance levels, and perhaps it is their globalness that keeps them resilient. Since the global luxury market is comprised of customer segments with relatively homogeneous needs, wants and motivations, achieving a global luxury brand positioning will help mitigate the negative consequences of economic crises, regardless of the market in which a luxury brand operates. The paper aims to discuss these issues. Design/methodology/approach – A survey instrument was administered to a sample of 200 professionals located in a European country where none of the global brands cited in the paper are originating. The country was also selected on the basis of its propensity to have local luxury brands in competition with the global brands in each of the categories tested. The survey was conducted during the peak of economic crisis in Europe. Findings – This study provides evidence that brand globalness may be a major value creating factor, and thus a source of competitive advantage for luxury brands competing in the global marketplace. Another question addressed by this study is should the luxury brand modulate the message projected in the media away from luxury and closer to quality or other stimuli less associated with luxury in order to avoid luxury shame. All these are questions addressed by this imperial study to investigate how the brand globalness influences consumer perceptions in global recessionary times. Originality/value – The proposed research formulates an empirical study of the underlining effects of what is referred to as “glocalization” in the literature on the luxury positioning. This study provides evidence that brand globalness may be a major value creating factor, and thus a source of competitive advantage for a luxury company competing in the global marketplace.


2019 ◽  
Vol 12 (6) ◽  
pp. 69 ◽  
Author(s):  
Regina Burnasheva ◽  
Yong GuSuh ◽  
Katherine Villalobos-Moron

The millennials are an important cohort in luxury market, because of their purchasing power and the power of social media interaction. However, little is known about factors underlying their attitudes toward luxury fashion brands and online purchase intentions. This study explores whether materialism, a need for uniqueness, susceptibility to informative influence, and social media usage affect millennials’ attitudes toward luxury fashion brands and online purchase intentions. In addition, this research examines cross-cultural differences between Russian and Korean millennials based on four cultural dimensions of Hofstede’s model. The results indicated that all factors significantly related to attitudes towards luxury brands, and this, in turn, positively effect on online purchase intentions. Moreover, the results indicated that millennials from Korea and Russia pursue a need for uniqueness, some differences were revealed regarding materialism, susceptibility to informative influence and social media usage. Theoretical and practical implications are further discussed.


2018 ◽  
Vol 36 (5) ◽  
pp. 558-571 ◽  
Author(s):  
Zahy Ramadan ◽  
Maya F. Farah ◽  
Armig Dukenjian

Purpose Luxury brands tend to be hesitant in adopting social media. This matter has created an imminent need to understand the different types of online luxury followers so as to help luxury brands communicate effectively with their consumers, while maintaining the “luxe” image and experience. Accordingly, the purpose of this paper is to provide luxury brands with a deeper understanding of their online audience and the strategies needed to engage with them through the different social media platforms. Design/methodology/approach A qualitative approach was utilized in which 24 in-depth interviews were conducted with Lebanese followers of an online luxury brand’s social media pages. Findings The study identifies the presence of six main categories of online luxury followers: pragmatists, bystanders, trend hunters, image seekers, passionate owners, and prime consumers. Each group has a specific engagement and propensity to buy levels. Research limitations/implications Understanding the different segments of luxury brand followers provides a framework for marketing managers that allows them to correctly target their marketing and communication strategies in order to maximize consumer engagement and purchasing behaviors. Originality/value A significant gap exists in the extant literature which offers no understanding of the different luxury brand followers and their different characteristics. This study is the first to offer an exploratory typology of the various luxury brand followers on social media platforms.


2018 ◽  
Vol 27 (3) ◽  
pp. 294-307 ◽  
Author(s):  
Julia-Sophie Jelinek

Purpose This study aims to understand the lasting relationship between luxury fashion and art. The purpose of the paper is to explore whether the application of art, the cooperation with artists, the implementation of experiential strategies focusing on retail spaces and shows embedded in the strategic concept of a luxury brand lead to a competitive advantage and to a sustained value creation for luxury brands. Design/methodology/approach Based on the literature, the strategic role of art and the importance of experiential marketing for the value creation of European luxury fashion brands was explored through empirical data collection, consisting of 26 semi-structured in-depth interviews. The gained data have been analysed through a thematic analysis approach and triangulated to avoid bias. Findings The exploratory study revealed that when art is applied as a strategic tool, it is of relevance to achieve an authentic fit to the brand. When integrating art consistently and authentically within the whole value chain system, it leads to a higher brand equity. Practical implications The paper provides a guide for both academics and marketers as theoretical frameworks are examined, analysed and future recommendations are given, which are suited to be applied within the brand management principles. Originality/value The outcome contributes to a wider delineation regarding the future of luxury brands. The study reveals novel viewpoints concerning the integration of arts in luxury brand marketing and adds to existing literature.


Author(s):  
Nicole Stegemann

<p class="MsoBodyTextIndent3" style="line-height: normal; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-style: normal;"><span style="font-size: x-small;"><span style="font-family: Times New Roman;">This article addresses the impact of brand extensions on the brand equity of luxury brands.<span style="mso-spacerun: yes;">&nbsp; </span>A review of the developments in the luxury market has shown significant changes in demand and supply sides.<span style="mso-spacerun: yes;">&nbsp; </span>The luxury market has been growing rapidly over the last 20 years, and luxury brands, formerly reserved for a small group of privileged individuals, are now available to more consumers.<span style="mso-spacerun: yes;">&nbsp; </span>Meanwhile, luxury goods manufacturers have been applying new marketing strategies, and extending their brands without any insights as to the consequences for their brands.<span style="mso-spacerun: yes;">&nbsp; </span>Despite these changes, little research has investigated the luxury market.<span style="mso-spacerun: yes;">&nbsp; </span>Therefore, a systematic review has been undertaken regarding the nature of luxury brands and research measuring individual luxury brand equity elements such as attitudes and perceptions.<span style="mso-spacerun: yes;">&nbsp; </span>Deviating results in the application of concepts for non-luxury brands to luxury brands have been found due to the abstract and emotional nature of luxury brands.<span style="mso-spacerun: yes;">&nbsp; </span>These results support the development of distinct brand equity constructs for luxury brands.<span style="mso-spacerun: yes;">&nbsp; </span>The main focus of this article is the impact of luxury brand extensions on the parent brand&rsquo;s equity and the proposal of a framework to allow the impact to be measured.</span></span></span></p>


2016 ◽  
Author(s):  
◽  
Eunseon Kwon

[ACCESS RESTRICTED TO THE UNIVERSITY OF MISSOURI AT REQUEST OF AUTHOR.] In the age of the internet, social media have emerged as the most powerful marketing tool around the world. Social media have the power to amplify marketers' brand messages to target consumers. Accordingly, a majority of brands try to build relationships with consumers in various social media channels such as Facebook, Twitter, Snapchat, etc. When consumers engage with brand pages in social media with behaviors such as clicking Like buttons or sharing postings with others, they are in essence advocating those brands to their peers, which I term as social media advocacy behavior (SAB for short). Nonetheless, empirical research on the drivers of consumers' social media advocacy behaviors is still in its infancy. We know very little about why some consumers choose to engage in SAB, whereas many others do not. My dissertation proposes an integrative framework for understanding consumers' underlying motivations for SAB. In so doing, I focus on luxury brand consumption, primarily because the luxury brand market is globally large and growing rapidly, especially in some Asian countries such as China and South Korea. An additional reason for focusing on SAB in regard to luxury brands is that when consumers engage with luxury brands in social media, they potentially gain symbolic benefits such as self- enhancement. In view of such symbolic benefits, marketers of luxury brands are emphasizing social media strategies to attract new consumers as well as to increase brand loyalty with existing consumers. Therefore, SAB is a particularly important issue for marketers of luxury brands. My conceptual framework includes four independent variables. First, I examine the role of brand prestige, since prestige is often associated with luxury (vs. non-luxury) brands. Second, since SAB is often triggered by the behaviors of others in one's social media circle, I look at whether the SAB cues received from others are from people with whom one has strong rather than weak ties. Third, I investigate the role of two individual-difference variables, need for status and need to conform. Both of these variables are well established in psychology and consumer behavior research. I argue that these two variables play an important role in influencing SAB. Further, my framework also posits that the effects of brand prestige, strength of reference group cues, need to status, and need to conform on SAB will be mediated by three motivational variables (self-enhancement benefit from SAB, community identification benefit from SAB, utilitarian benefit from SAB) and one inhibiting variable (social-evaluative anxiety from SAB). The empirical part of my dissertation involved an experimental study. My study involved two product categories, handbags and clothing. Because of the nature of these product categories, only female participants were recruited. Data were collected using Qualtrics online software and participants were provided monetary compensation. There were a total of 413 usable responses. The data were analyzed with regression analyses and mediation analyses using Process software. The results showed that strong reference group cues, high need for status and high need to conform were positively related to likelihood of SAB for both product categories. Further, mediation analyses supported the role of self-enhancement benefit, community identification benefit, utilitarian benefit, and social-evaluative anxiety in mediating the effects of three aforementioned variables on the likelihood of SAB. In addition, the results supported the prediction that high vs. low brand prestige would have a positive effect on self-enhancement benefit and a negative effect on utilitarian benefit. In conclusion, I believe my dissertation makes a significant contribution to our knowledge of consumers' motivations for engaging with brand pages of luxury brands in social media and why some consumers choose to become brand advocates in social media, while many others do not. In addition, my research provides practical guidance for marketing practitioners on how to exploit social media platforms for building brands.


GIS Business ◽  
2019 ◽  
Vol 14 (5) ◽  
pp. 45-53
Author(s):  
R. SATHYADEVI ◽  
R. ASWINI

As consumers satisfy their feelings of pleasure and gratification through the luxury goods, the available luxury products will also continue to enhance its charm for consumers. The rich have no more a monopoly on the luxury goods. One of the most important factors leading to the actual growth of the luxury market is the introduction of luxury goods to the middle and upper-middle class. The present study attempted to analysis the knowledge, affection and behavior related discernment of the consumers on the luxury products.  For obtaining the objectives, the study adopted questionnaire to collect the data from the customers. The study collected data from the customer, who visiting the shopping malls for buying the luxury brand products. T  Test used to present the collected opinion of the consumers.  The study highlighted that most of consumers are depend with affect related factors to luxury brands compared with knowledge and behavior based factors.


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