The Common Values of Social Media Marketing and Luxury Brands. The Millennials and Generation Z Perspective

Abstract

As consumers spend more time on social media, brands can take advantage of this opportunity to better serve and communicate with their followers. Still, given the characteristics of luxury, luxury brands may be reluctant to use social media. To determine the extent to which Millennials and Generation Z consumers perceive compatibility between social media marketing and luxury brands, a purposive sampling technique was employed. We collected data from 303 Romanian visitors of the Facebook page entitled Do You Like Luxury? This page, with postings from luxury producers, was specially created and sponsored in order to raise interest in completing the questionnaires. For data analysis, we used statistical tests, including confirmatory factorial analysis, regression, and independent-samples t-test. Our research shows that, for Millennials and Generation Z, luxury brands are compatible with social media apps as marketing channels. Even in the case of inadequacy, managers can still use the facilities of digital technologies to depict exclusivity, emotions, and sensory experiences specific to luxury. Unlike other studies, which only focused on a few dimensions, we proposed a multidimensional approach of the perceived value of luxury and social media marketing. Moreover, this is one of the few studies to focus on Eastern European consumers.