Affordable luxuries: Comparing American and Chinese millennial consumers

Global brands are benefiting from the rapidly growing demand for luxury products in China. While research interest in the luxury sector in China is developing, there has not been any research on the affordable luxury sector in that market. This manuscript addresses this gap and is the first cross-cultural study that compares Chinese and American millennial consumers’ perceptions and expectations of affordable luxuries in these two markets. Our analysis reveals the differences and similarities in American and Chinese millennial consumers’ perceptions of affordable luxuries in comparison to both luxuries and necessities. The implications of this research for retailers of affordable luxury products are highlighted with respect to the decision of whether to adapt their global positioning strategies.