CONSUMPTION OF AFFORDABLE LUXURY AMONG YOUNG WOMEN: THEORETICAL CONSIDERATIONS AND EMPIRICAL RESEARCH

In recent decades a new category of luxury products have emerged. It is referred to as affordable luxury or luxury for the masses. The article contains the analysis of the definition of luxury, luxury market as well as sociological and psychological aspects of luxury consumption. With regard to empirical research the purpose of the study was to explore how young women perceive luxury and why they engage in luxury consumption in the context of their experiences, perspectives and feelings connected with luxury purchases? A cohort of women aged between 20 and 30 years was studied as young woman are the future market drivers with reference to luxury goods consumption. Research results indicate that traditional explanations of luxury brands consumption based on sociological notions of prestige, social stratification and impressing peers have a limited explanatory value with regard to predicting the consumer behavior of young females.