The conspicuous consumption behaviour among the millennial generation

The conspicuous consumption behaviour has grown in Malaysian culture over the last few years, particularly among the millennials, such as college or university students and young working adults. Given the potential for growth of luxury brands in Malaysia and the country's enormous earnings from luxury shopping, citizens, particularly millennial consumers, may suffer in the long run from the trend of living luxuriously. Millennial consumers are commonly related to social problems such as prostitution, selling drugs and sugar babies to obtain a luxury lifestyle. In addition, millennial consumers are also related to bankruptcy issues. Bankruptcy among youth is critical and needs further attention to control the circumstances. This paper aims to provide an overview of conspicuous consumption behaviour and its importance in recent market and business research. The methods used to complete this paper are collecting data from published journals, conferences paper and books. The result shows that luxury consumption values consist of functional, symbolic, experiential, and zero-moment-of-truth (ZMOT), the primary key for the market and business to tackle the millennial demand. The finding implies contribution to literature in marketing relating to consumption values and market choices, product branding, product image, product choice, and product purchase decision processes. Subsequently, the finding may help the business to strategise the best marketing approach to advertise as a luxury brand so that many people want to associate themselves with their products. In addition, the company will create a new trend in the culture and social or economic class in which the consumers reside.