Management Journals

The IUP Journal of Marketing Management

Consumer Behavior Towards Personal Luxury Goods: The Mediating Role of Brand Attachment

Article Details

Pub. Date	:May, 2019
Product Name	: The IUP Journal of Marketing Management
Product Type	: Article
Product Code	: IJMM11905
Author Name	: Shadma Shahid and Rahela Farooqi
Availability	: YES
Subject/Domain	: Finance
Download Format	: PDF Format
No. of Pages	: 23

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Abstract

The Indian luxury market is seen as ‘Next China’, but little has been studied about this upcoming luxury market. With the growing number of luxury products for consumers in India, there is a need to understand the factors driving these consumers’ luxury purchase behavior. The aim of this paper is to develop and understand the Indian luxury products consumers’ buying behavior and test the mediating role of brand attachment between behavioral intention and luxury products actual purchase relationship. The study is based on a survey of real-time luxury consumers who have bought international luxury brands in three categories (Apparels, Footwear and Handbags). Structural equation modeling was applied to test the proposed hypotheses. The results of our study indicate a positive impact of brand attitude on social, functional and personal values, followed by a positive influence on purchase intention, which in turn positively influences actual purchase consumption. Brand attachment was found to partially mediate the relationship between consumer purchase intention towards luxury goods and their actual purchase.

Description

Globalization has brought luxury goods within the grasp of common man (Eng and Bogaert, 2010; and Brun and Castelli, 2013). The global demand for luxury products is increasing (Kapferer and Bastien, 2009) with annual luxury sales across the world estimated at $222 bn (Deloitte, 2016). This luxury market has showcased continuous growth (Bain & Company, 2014) across the years. The consumption of luxury goods has always been an attractive topic for academic researchers. Many researchers (Stokburger-Sauer and Teichmann, 2013; Dall’Olmo et al., 2015; Kapferer and Valette- Florence, 2016; Vigneron and Johnson, 2017; and Ahn et al., 2018) in the past have tried to study the consumer behavior for luxury products, but this market still has a dearth of information about the pattern followed by consumers in the consumption of luxury goods in different markets (Wiedmann et al., 2009).