Luxury value perceptions: A cross-cultural perspective

Throughout history scholars have devoted significant attention to understand our fascination with luxury. Recently, consumer researchers have explored how and why we ascribe value to luxurious possessions. This thesis examines the key historical and current developments in regards to the construct of luxury and offers an integrative definition that takes into account the generic, trait and experiential aspects of luxury. The thesis further investigates the construct of value through a multi-disciplinary lens and provides an overview of the current debate. Moreover, integral to this thesis is the work carried out in the area of luxury value perception by Shukla (2011, 2012), Shukla and Purani (2012), and Shukla, Singh, and Banerjee (2015) that has resulted in operationalization and examination of luxury value perceptions in cross-cultural setting. Finally, based on the extant scholarly debate, the thesis identifies major themes and highlights critical issues and unanswered questions that would help propel the body of knowledge forward.