TAILORING LUXURY RETAIL STRATEGIES Exploring Consumer Needs in the Swedish Market
Publicerad
Författare
Typ
Examensarbete för masterexamen
Master's Thesis
Master's Thesis
Modellbyggare
Tidskriftstitel
ISSN
Volymtitel
Utgivare
Sammanfattning
As consumer heterogeneity grows, firms in the Swedish luxury industry face increasing
challenges in responding to the distinct preferences of emerging generational cohorts,
particularly Generation Z, while retaining the loyalty of traditional consumers such as
Generation X. Due to the conservative nature of the luxury sector, characterized by
institutional inertia and resistance to change, response to shifts in the industry is often
slow and cautious. Existing research on generational differences in luxury consumption
has largely focused on international markets, leaving the Swedish context underexplored.
This study investigates how Generation X and Generation Z consumers in Sweden
perceive luxury, what motivates their luxury purchases, and how they navigate the luxury
customer journey. Drawing on 24 exploratory and 10 in-depth semi-structured
interviews, the findings reveal that Generation X views luxury through a product-centric
lens, emphasizing quality, durability, and heritage. In contrast, Generation Z consumers
perceive luxury more aesthetically and symbolically, often associating it with peer
validation, indulgence, and as a sustainable alternative to fast fashion. The study identifies
clear differences in generational customer journey behaviors, with Generation Z favoring
digital engagement and seamless transitions across channels, while Generation X values
physical experiences and longer-term relationships. A distinctly Swedish perspective
also emerged, such as understatement and Scandinavian aesthetic. Based on these
insights, the study proposes three strategic focus areas for luxury firms: Locally tailored
assortment, Personalizing for loyalty, and Seamless customer journeys. Together, these
provide a roadmap for shifting from traditional luxury strategies to a more customer-
centric approach that aligns with generationally diverse expectations of luxury.
Beskrivning
Ämne/nyckelord
luxury, conservative industry, generational cohorts, customer journey, luxury strategy