BACK TO THE FUTURE: THE FASHION LUXURY RESALE MARKET. A CROSS-CULTURAL ANALYSIS ABOUT AMERICAN AND ITALIAN CONSUMERS' PURCHASING DRIVERS.

Abstract

This paper aims at analyzing, throughout an Italian and American cross-cultural study, one of the phenomena which is booming in the fashion luxury sector: the resale market. The former part of the dissertation is dedicated to a theoretical discussion. In the first chapter, the topic is introduced. A general overview on the main forms of sharing economy in the luxury sector is provided, followed by an historical framework on fashion luxury secondary market and a focus on commonalities and differences in the second-hand and vintage luxury worlds. Some paragraphs are dedicated to fashion luxury brands’ reaction towards the resale phenomenon, trying to understand whether it is either a threat or an opportunity for them. The chapter ends with an analysis regarding the diverse resale luxury distribution channels which are competing in the market.

Subsequently, the second chapter has the objective to collect the main theoretical studies about fashion luxury consumer behavior in the resale segment. The research in the field is very recent. The chapter discusses academic papers with the purpose to highlight the insights regarding the reasons behind a pre-loved and vintage fashion luxury consumption, finding seven main antecedents: nostalgia and treasure hunting, frugality and bargain hunting, need for status, need for uniqueness, authenticity, timeliness and environmental sustainability.

The academic part of the dissertation ends with the third chapter. It begins with a brief presentation about Hofstede’s cultural framework and an overview about American and Italian luxury resale markets. However, this section aims at associating each consumption’s driver found in the previous chapter with the Hofstede model’s dimensions. Nine hypothesis have been formulated: seven of them suppose correlations between American and Italian’s position in the Hofstede dimensions’ index and the resale luxury purchasing reasons; the other two associates cultural differences and the role played by Covid-19 in the luxury secondary market.

Last part of the dissertation describes the empirical analysis conducted. The fourth chapter of the thesis, in fact, opens with the presentation of the survey research approach used to understand cultural differences driving resale luxury consumption in Italy and USA. Then, there is a descriptive analysis of the samples considered. After a quantitative and statistical analysis of data collected, surprising findings are reported, each of them either confirming or neglecting suppositions previously formulated.