Buying Used Luxury Goods: What is the Perceived Value for Generation Z Consumers

Abstract

This study attempts to examine the perceptions of the value of second-hand luxury products among consumers of Generation Z. Indeed, born in the 2000s in the era of new information and communication technologies and after “millennials” or “generation Y”, “generation Z” consumers have strong characteristics that are different from their elders. They seek to cross their consumption to advocate values, to stand out by looking for products in limited series and to base their choice on the price and quality of products and brands. Also, they are perceived as having a great sensitivity to respect for the environment. To achieve this objective, a quantitative methodology based on a convenience sample of 200 individuals contacted by the snowball method was mobilized to explore the different perceptions of second-hand luxury products. The various configured data have been modified by the method of structural equations. At the end of these statistical treatments, the results of our study reveal that these Generation Z consumers are oriented towards second-hand luxury products for their symbolic aspects and for the same purposes as new luxury products. The results also reveal that these consumers use luxury products not only for the social value they connote but also seek to diffuse a favorable social image around them. Thus, they seek to benefit from the esteem of those around them, present themselves as trendy young people and also conform to the style of their group to which they belong.

JEL classifcation : M30

Paper Type : Empirical Research