A STUDY ON CHINESE CONSUMERS' INTENTION TO PURCHASE SECONDHAND LUXURY GOODS

Abstract

Consumption of secondhand luxury goods is rapidly developing in China, but the market share of secondhand luxury goods in the overall luxury market is still below that of developing countries and the world’s average level. This study uses a multi-method approach to promote the increase of secondhand luxury goods consumption in China. First, a qualitative study was carried out to identify potential attitudes and barriers towards Chinese consumers’ consumption of secondhand luxury goods. Then, based on qualitative research results and prior studies, the barriers associated with purchasing secondhand luxury goods were identified as five categories of perceived risks. The research model was verified through quantitative research. The results demonstrated that perceived value of luxury goods was negatively affected by four types of perceived risk, but not by financial risk. In addition, perceived value positively affected purchase intention of secondhand luxury goods.