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Personal and Social Motivations of Second Hand Luxury Consumption Among Millennials
Abstract
This research paper explores the relationship between Generation Y (Gen Y) conscientiousness and narcissism characters as well as social influence and electronic word of mouth (eWoM) on their intentions to engage in second-hand luxury consumption. With the rise of sustainability concerns and a growing interest in conscious consumerism, understanding the factors influencing the younger generation's choices in the vintage luxury market becomes paramount. A comprehensive review of existing literature provides the foundation for understanding the dynamics at play in the second-hand luxury market. Empirical evidence is drawn from a survey of Gen Y consumers, and the findings shed light on the relationships between consumer's conscientiousness, social influence and luxury second hand buying intentions. The paper concludes with practical implications and suggestions for marketers aiming to capitalize on the evolving landscape of sustainable luxury consumption.
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