The global luxury market is relentlessly growing over the last few decades, defying the global economic crisis. It is estimated that the luxury market is made up by a continuously enlarging heterogeneous group of 330 to 380 million consumers worldwide. The consumption of luxuries goes beyond the riches and wealth of countries, as the highest luxury spenders are to be found in places like the Middle East, Japan, and China. Luxury goods’ penetration relatively to GDP is low in countries like Germany and the U.S. and high in Italy, France, and South Korea. Wealth and economics alone cannot explain the economics underlying luxury consumption; culture is an important driver of growth in this sector. Culture gives meaning to luxuries, affects the perceived value and motivations to buy luxury goods, and determines luxuries’ signaling power and potency as differentiators and identity signifiers. Today, despite the size, growth and geographical spread of the luxury goods market, cross-cultural research is limited and rather scattered in different fields. Much of the research undertaken draws from Hofstede’s typology of culture and focuses on a narrow range of conceptual issues. The purpose of this presentation is to review and summarize existing cross-cultural research on luxury products and to identify fruitful future research directions that will expand our understanding of luxury goods marketing. In addition, attention will be given to examining current trends and behaviors in the field

• Gregor Pfajfar(University of Ljubljana, Slovenia)
• Aviv Shoham(University of Haifa, Israel)
• Nihat Anil(Kirklareli University, Turkey)
• Ossi Pesämaa(Hanken School of Economics, Finland)
• Maja Makovec Brenčič(University of Ljubljana, Slovenia)