The Cinderella moment: Exploring consumers’ motivations to engage with renting as collaborative luxury consumption mode

Eleonora Pantano, Nikolaos Stylos*

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)peer-review

9 Citations (Scopus)
1 Downloads (Pure)

Abstract

Past literature argued that the purchase of luxury goods is driven by people’s motivation to conform or fit into our economic and social system. In this study, the authors focus on a new aspect of consumption, i.e. renting instead of purchasing luxury goods, backed by the emerging opportunities of sharing economy platforms. Drawing upon the analysis of spontaneous consumers’ online communications (in the form of tweets), this research aims to investigate the motivations to engage with luxury garment renting within a collaborative consumption context. To this end, a series of automatic content analyses, via two studies, were conducted using the tweets posted with respect to the Run the Runway collaborative consumption platform. Results demonstrate consumers’ increased willingness to show their social status through renting rather than owning luxurious apparel based on five main motivators (need to wear new clothes for a special event, inspirations created by the products/brands, possibility to explore a new way of consuming luxury goods, need to make more sustainable choices, and to increase the life cycle of each luxury product). The implications of these findings are discussed, while they pave the way for future research in collaborative consumption of luxury retailing.
Original languageEnglish
Pages (from-to)740-753
JournalPsychology and Marketing
Volume37
Issue number5
Early online date9 Mar 2020
DOIs
Publication statusPublished - 20 Apr 2020

Structured keywords

  • MGMT Marketing and Consumption

Keywords

  • Luxury retailing
  • sharing economy
  • consumer behavior
  • collaborative consumption
  • status consumption
  • Twitter
  • textual data

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