Business Commons^™

Status Consumption And The Millennial Consumer: An Exploratory Study, Angelina Heugel

Honors College Theses

This paper focuses on millennial consumers’ perceptions about the motivation to purchase luxury and status items for the young working professional. It defines and addresses the relationship between status symbols and what drives the millennial generation’s purchases and desires to purchase. Research was conducted through a detailed literature review, qualitative pre-test and focus group. Through the pre-test, themes of luxury and status items were found. Common product categories to represent status items included: accessories, clothing, technology, travel, pet ownership, home ownership, expensive cars, and entertainment. The focus group was conducted in a classroom setting discussion with thirty students. Students participating …