The Impact of Generational Cohorts on Status Consumption: An Exploratory Look
Advances in Marketing: Sensory Marketing-The Next Frontier
This paper compares the levels of status consumption for Baby Boomers, Generation X, and Generation Y (Millennials). The study finds significant differences in the level of status consumption by generational cohort. The average level of status consumption was highest for Generation Y, followed by Generation X and then Baby Boomers. In looking at the significance of these differences between individual cohorts, there was a significant difference between Generation Y and Baby Boomers. For luxury marketers, this suggests they consider the Generation Y generational cohort as a potential market segment.
Eastman, Jacqueline K..
"The Impact of Generational Cohorts on Status Consumption: An Exploratory Look."
Advances in Marketing: Sensory Marketing-The Next Frontier, William J. Kehoe and Linda K. Whitten (Ed.): 52-53 Montgomery, AL: Society for Marketing Advances.
source: http://c.ymcdn.com/sites/www.marketingadvances.org/resource/resmgr/imported/2011%20SMAProceedings.pdf isbn: 9780984088423