Future consumers’ perceptions of sustainability, and their reflections on buying decisions

The purpose of this quantitative study is to study future consumers’ perception of sustainability in relation to business in general and specifically concerning the forest industry. The aim is to understand, what they feel is important for sustainable business and how the forest industry, in their opinion, is performing in this respect. Further, it aims to study how these perceptions reflect in their buying decisions. The research was conducted by a quantitative survey in two countries, Finland and Hong Kong, in the spring of 2015. All data used in the research is primary. The result indicate that consumers see sustainability issues important today and in the future. Sustainability is seen important both for business in general for the forest industry. The industry is considered sustainable now, but room for improvements exists. The appreciation of sustainability does not reflect to buying decisions, however. The buying of ecological products seems to be more up to chance than to intention. Consumers are not proactive in searching for more ecological or responsible options. Information needs to be taken to them. Ecologicalness as such is still not a strong selling point.

Children of Matter: Luxury Value Perceptions of Millennials in Higher Education in Europe

In recent years, the luxury market has entered a period of very modest growth, which has been dubbed the ‘new normal’, where varying tourist flows, currency fluctuations, and shifted consumer tastes dictate the terms. The modern luxury consumer is a fickle mistress. Especially millennials – people born in the 1980s and 1990s – are the embodiment of this new form of demanding luxury consumer with particular tastes and values. Modern consumers, and specifically millennials, want experiences and free time, and are interested in a brand’s societal position and environmental impact. The purpose of this thesis is to investigate what the luxury value perceptions of millennials in higher education are in Europe, seeing as many of the most prominent luxury goods companies in the world originate from Europe. Perceived luxury value is herein examined from the individual’s perspective. As values and value perceptions are complex constructs, using qualitative research methods is justifiable. The data for thesis has been gathered by means of a group interview. The interview participants all study hospitality management in a private college, and each represent a different nationality. Cultural theories and research on luxury and luxury values provide the scientific foundation for this thesis, and a multidimensional luxury value model is used as a theoretical tool in sorting and analyzing the data. The results show that millennials in Europe value much more than simply modern and hard luxury. Functional, financial, individual, and social aspects are all present in perceived luxury value, but some more in a negative sense than others. Conspicuous, status-seeking consumption is mostly frowned upon, as is the consumption of luxury goods for the sake of satisfying social requisites and peer pressure. Most of the positive value perceptions are attributed to the functional dimension, as luxury products are seen to come with a promise of high quality and reliability, which justifies any price premiums. Ecological and ethical aspects of luxury are already a contemporary trend, but perceived even more as an important characteristic of luxury in the future. Most importantly, having time is fundamental. Depending on who is asked, luxury can mean anything, just as much as it can mean nothing.