COMPARISON OF GENERATION X, Y AND Z ON PURCHASE INTENTION OF LUXURY PRODUCTS IN TURKIYE

Abstract

This research paper delves into a comprehensive analysis of the purchase intention of luxury products among different generational cohorts in Turkiye, with a focus on Generation X, Generation Y, and Generation Z. The study aims to provide an in-depth understanding of the psychological factors that shape purchase intentions within these distinct generational segments. Employing a mixed-methods approach, the research combines data collection through a structured online questionnaire and statistical analysis to explore the relationships between key variables, including the need for uniqueness, self-monitoring behavior, social function attitudes, affective attitudes, and purchase intention. To gather data, a carefully designed online survey was administered to a diverse sample of participants, representing various genders, ages, and educational backgrounds. The survey included a range of questions targeting the participants' attitudes and behaviors towards luxury products. The collected data were subjected to rigorous statistical analysis, including descriptive statistics such as means, standard deviations, and skewness, to provide a comprehensive overview of the data distribution and insights into the patterns and trends observed. The findings of this research shed light on the varying levels of attitudes and intentions towards luxury products among the different generational cohorts in Turkiye. The analysis of the need for uniqueness variable revealed the participants' inclination towards seeking unique and original products, while the exploration of self-monitoring behavior uncovered the extent to which individuals are conscious of their actions and impressions. The examination of social function attitudes offered valuable insights into the participants' perceptions of luxury brands as symbols of social status and self-expression. Additionally, the assessment of affective attitudes explored the emotional responses of individuals towards luxury brands. Finally, the investigation of purchase intention provided valuable insights into the participants' likelihood and willingness to consider purchasing luxury products. The results of this research contribute significantly to the existing literature on consumer behavior and preferences within the luxury goods market. Marketers and retailers targeting different generational segments in Turkiye can benefit from the insights gained, enabling them to better understand the unique needs, preferences, and motivations of each cohort. Furthermore, the findings have implications for strategic marketing initiatives, brand positioning, and communication strategies aimed at engaging and appealing to consumers within the luxury goods sector. While this research provides valuable insights, further studies can explore additional factors that influence purchase intention within the luxury goods market in Turkiye, such as brand image, social influence, and cultural aspects. By expanding the scope of research, a more comprehensive understanding of consumer behavior in the luxury sector can be achieved, assisting marketers and industry professionals in developing effective strategies to meet the evolving demands and preferences of consumers.