Antecedents of Luxury Brand Consumption: An Emerging Market Context
Department of Marketing, Indian Institute of Foreign Trade, India
With dramatic growth of consumption in Indian market, luxury fashion brands have become a domain of growing interest to marketers, academicians and researchers. The study investigates the psychographic factors influencing luxury brand consumption in Indian context. A quantitative and qualitative study was conducted to fulfil the objectives. For qualitative study, in depth interviews were conducted and broad themes were discussed. A structured questionnaire was administered in Delhi. A sample of 423 respondents was analysed. Using structural equation modelling, the study revealed that hedonic, consumer need for uniqueness, price and quality, ostentation, fashion consciousness motivation influence attitude towards luxury brand consumption. However, the findings suggest that social conformity influence attitude towards luxury brands negatively. The findings can be of use to segment the market and positioning of the luxury brands. The findings can also be of help in formulating advertising campaigns of luxury brands. The research will also contribute in academic literature related to luxury brand consumption.
Keywords: Luxury Consumers, Hedonic, Need for Uniqueness, Fashion Consciousness, Indian Consumers, Attitude, Intentions.