This study focused on cohorts therefore representation of all of the three generational cohorts was essential. The reason for opting for this kind of segmentation is based on the premise that because of the differences in values and priorities, there will be differing levels in status consumption (Eastman and Liu, 2012). For the purpose of this study, the generational cohorts are segmented as Baby Boomers (cohort born between 1945 and 1964), Generation X (cohort born between 1965 and 1976) and Generation Y (cohort born between 1977 and 1994) (Schewe et al., 2000), essentially targeting male and female consumers between the ages of 22 and 71. The reason for opting for this kind of segmentation is based on the premise that because of the differences
