Millennials, Luxury Brands, and Sustainability (Research Proposal Sample)

Research Proposal
Millennials, Luxury and Sustainability
Student ID:
Table of Contents
Page
* Abstract 3
* Introduction 4
* Research Aim and Objectives 4
* Research Question 5
* Literature Review 5
* Methodology and Research Design 6
Philosophy
Approach
Strategy
Time Horizon
Analysis of Data
* Limitations and Ethical Considerations 7
* Timescale 8
* Reference List 9
Abstract
This research proposal is about how the millennials are influencing the luxury brands in the UK to go sustainable. It aims is to find out what is influencing the millennials in the first place, to move towards sustainability, what actions of the millennials are causing the brands to go sustainable and how there is a real need for everybody to move towards sustainability. It touches on the sensitive topic of sustainability and its desperate need in today’s world through the luxury market.
The proposal includes a brief introduction of the topic of sustainability and the need for the luxury brands to move towards it who are otherwise hesitant as they build their brand on exclusivity and uniqueness and going sustainable would be going against these ideas. Going forward, the main research question and the aims and objectives of the research are discussed. The various literature reviews available on the internet related to our topic are also discussed and an attempt would be made to bridge the gap between the topics that are covered and that need to be covered.
The methodology that will be used to carry out the whole research is discussed. How a quantitative approach would be used with the help of surveys and questionnaires to collect the data from the sample is discussed.
And finally, the limitations that we might face during the research and the ethical considerations that I need to make as a researcher while conducting the research are mentioned.
Introduction
Climate change has become a very important topic in today’s world. It is high time that we seriously work towards saving our planet. Experts have been trying to bring awareness about the environment for a long time, but people were not able to understand the gravity of the situation. With the rise of social media and the understanding of the masses, we have started to understand how serious of an issue this is. People have started to become aware of the need for protecting the environment and are wanting to lead a more sustainable lifestyle. Sustainability is the avoidance of the depletion of natural resources to maintain an ecological balance (Oxford Dictionary).
When it comes to the fashion/retail industry the consumers have become even more conscious and informed about the effects of their buying behaviour on the environment and as a result, they have become more selective about the products and the brands that they buy from. This shift in consumer behaviour is causing a huge impact on luxury brands. Luxury brands get their luxury status through their exclusivity, specific social and cultural status, and exorbitant prices. But in this modern world of sustainability, they have to go beyond these old ways and mold themselves into more environmentally friendly brands. The modern consumer, especially the millennials who are the focus consumers of luxury according to several reports are more conscious of their purchasing decisions and its impact on the environment. They are even ready to pay more for