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Italians & Luxury Goods (Consumer Behavior Analysis)
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Italians & Luxury Goods (Consumer Behavior Analysis)

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Global Consumer Behavior @ Emerson College

Global Consumer Behavior @ Emerson College

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  • Live in a low-trust society Trust with “in group” is easily established Takes much longer to trust “out group” members

Italians & Luxury Goods (Consumer Behavior Analysis) Italians & Luxury Goods (Consumer Behavior Analysis) Presentation Transcript

  • Luxury Goods in Italy & Consumer Behavior By: Emily Purdie, Zeenat Rasheed, Valerie Reynolds & Sonam Sagar
  • Italy and Trompenaars
    • Particularism, and attitude towards counterfeit goods
    • Affectivity, and assigning status
    • Communitarianism, and social influences
    • Time Orientation, and loyalty to older luxury brands
    • But before we begin…
  • La Bella Figura
    • “ The Beautiful Figure”
    • Emphasizes beauty, good image, aesthetics and proper behavior
      • Clothing and Fashion
      • Rules of Etiquette
      • Loyalty to Family and Friends
      • Understanding of Good Taste
  • Spot the Fake!
  • Made in Italy… Or Not
    • Italy…
      • 3 rd largest global producer of counterfeit goods; largest in Europe
      • Number 1 consumer of fake products
      • Counterfeit leather good industry in Italy is worth $1.5 billion!
      • 80% of consumers admit to have knowingly bought fake goods
      • Fakin’ the Ferraris
        • “ Trying to impress neighbors and other road users...”
  • Italian Particularism
    • Nonchalant, ‘bend the rules’ attitude likely stems from desire for La Bella Figura
    • Little respect for intellectual property or law
    • Always looking for a ‘good deal’
      • Hopping across the pond for Prada
    • Low enforcement of rules
      • Civil offense, punished by a fine
  • Hey Ladies, Guess What?
  • Don’t Be a Stiff!
    • As early as 14 th century, nobility showed status and authority through gesturing
    • Mocked Spanish for lack of animation
      • “ Man, or a figure of wood”
      • Physical stiffness associated with arrogance
    • Outwardly displayed symbols of luxury
      • Coats of arm, special seals
  • Italian Affectivity
    • Luxury goods and affective behavior both associated with status, La Bella Figura
    • Tied together by their shared history, i.e. the desire to express status and differentiate elegant Italians from others
  • Family Matters
  • Sempre Famiglia! (Family Forever)
    • Italians appear fashionable and modern
      • But their values are more traditional than Americans
    • Place great deal of emphasis on family and relationships
      • Grown children live with their parents
      • Strangers are not invited into the home, and are met with in a restaurant or café
      • Live in a low-trust society
  • Italian Communitarianism
    • Look to family to provide positive reinforcement and advice about luxury goods
      • Trust family more than salesperson
      • Luxury products enhance own La Bella Figura, as well as the family’s
  • Brands: Then and Now
  • “ All the flowers of tomorrow are in the seeds of yesterday...”
    • Luxury goods typically produced by small, family-owned companies
    • Ferragamo, Versace and Prada are wary of being publicly owned
    • Italians value old-world craftsmanship
    • Pass skills on to the next generation
    • 70% of new brands fail
  • Italian Synchronic Time Orientation
    • Italians carry their pasts with them
    • Older brands are..
      • Prestigious, respected, preferred
      • Truthful, wise
      • Add stability to people’s lives
    • Italian fashion today is still inspired by early years
      • Major fashion trend is the reinvention of older luxury fashion houses
      • Successful new brands are inspired by old designers
      • Focus on quality and simple lines which transcend time and place
  • Conclusions
    • Italians value the idea of getting a ‘good deal’
    • See their heritage reflected in ownership of luxury products
    • Seek approval from family before making high-end purchases
    • Cherish craftsmanship traditions and older brands
  • Marketing Recommendations
    • Emphasize the value of high quality, original, beautiful products as a means of enhancing La Bella Figura
    • Use celebrity endorsements to convey status and social approval
    • Focus on the history of the brand and product craftsmanship to showcase prestige
  • Ciao Bella!