Consumer Motivations for Sharing Luxury Brands

Abstract

Luxury marketers have been watching the rise of sharing startups and the unprecedented consumer acceptance of the same with trepidation. This phenomenon has the potential of scuttling the apple cart of legacy luxury brands and the conventional way of marketing. Thus, the author makes an attempt to dissect the consumer motivations for sharing precious possessions on the one hand and using such services on the other hand. By observing such phenomenon at close quarters using in-depth consumer interviews supplemented by netnographic observation of luxury brand communities, this paper attempts to capture the enablers of a changing consumer psyche in order to chart out strategic implications for brand custodians. In short, this paper examines the following research question a) what are the consumer motivations for sharing as well as using shared luxury brands b) what are the enablers of consumer transition from ownership centric to experience centric consumption of luxury.