Chapter 7 Understanding luxury millennial consumption experiences as means to improve brand value
DOI: 10.23912/9781915097644-5811 | ISBN: Hardback |
Published: August 2024 | Component type: chapter |
Published in: Emerging Trends in Consumer Behaviour in the Service Sector | Parent DOI: 10.23912/9781915097644-5756 |
Abstract
Luxury customer experience (LCX) is characterized by higher degrees of attention, exclusivity, personal space, augmented products and services, and personalization – all at a premium compared to standard offerings and to a smaller customer base. Brands and consumers of luxury experiences forge intense, intimate, and memorable bonds, which they communicate more widely with others – further amplifying emotional connections. Also, in a form of accrued social currency, these experiences are converted into increased perceptions of value and status beyond functionality. Airline companies have managed to segment, compartmentalise, and leverage travel in the same flight, for different price points and experiences, in a way that challenges classical notions of luxury and quality. This chapter focusses on the habits, perceptions, experiences, and aspirations of millennial travellers. It examines the trend of millennials choosing to travel on premium packages, for recreational reasons. Linked to this, definitions and perceptions of luxury, branding, identity, and social currency are explored – to understand how LCX can be used to improve airline brand values and marketing activities. The chapter presents a conceptual model and checklist designed to help align airline branding and LCX as a sequenced and holistic approach, which may have wider applications in the luxury hospitality, tourism, and events industry.
Sample content
Contributors
- Jonathan Wilson, Consultant (Author)
- Diana Tartakovska, Department of Culture and Tourism, UAE (Author)
- Lika Baghdasaryan, Professor (Author)
For the source title:
- Saloomeh Tabari, Cardiff Business School, Cardiff University, UK (Editor) https://orcid.org/0000-0002-0645-4789
- Nazan Colmekcioglu, Cardiff Business School, Cardiff University, UK (Editor) https://orcid.org/0000-0001-9041-4044
- Wei Chen, Sheffield Business School, Sheffield Hallam University, UK. (Editor)
Cite as
Wilson, Tartakovska & Baghdasaryan, 2024
Wilson, J., Tartakovska, D. & Baghdasaryan, L. (2024) "Chapter 7 Understanding luxury millennial consumption experiences as means to improve brand value" In: Tabari, S., Colmekcioglu, N., Chen, W. & , (ed) . Oxford: Goodfellow Publishers http://dx.doi.org/10.23912/9781915097644-5811
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