Influencing Factors and Role of Emotions in LuxuryConsumption : A study of Millenials’ attitudes, beliefs and value perception of luxury goods and services

The objective of the thesis is to examine the role of emotions, attitudes and influencing factors leading to luxury consumption. The target group chosen for the thesis study are the Millennials who were born in 1978-2000. The research is implemented through an Internet-mediated questionnaire with multiple-choice and open-ended questions. The open-ended questions allowed the 53 respondents to express a variety of opinions freely, which was useful for the research. The research results of the questionnaire suggest that some consumers have ambivalent feelings regarding to the emotional state before, during or after purchase. Many consumers expressed mixed feelings of both happiness and regret. The research results revealed that expensiveness and high quality were positively related to the high price set by luxury brands. The author’s hypothesis statement on the most influencing factors is income level and consumer emotions/want. Furthermore, when respondents were given the option of multiple choices in determining influencing factors leading to purchase, majority of the respondents believed those factors to be emotions and wants. In addition when respondents were asked to select specifically one factor that influenced them the most to purchase luxury goods, majority of the respondents selected income level