Value‐based segmentation of luxury consumption behavior

Abstract Following a broader perspective in exploring customer perceptions of and motives for purchasing luxury brands, it is not sufficient to explain the whole picture of luxury consumption in terms of socially oriented consumer motives and the desire to impress others. The main contribution here is to explore a multidimensional framework of luxury value as a general basis for identifying value‐based consumer segments. The empirical results can be seen as a first step toward a better understanding of consumers' luxury value perceptions as based on social, individual, functional, and financial aspects. ©2009 Wiley Periodicals, Inc.