Impacts of U.S. affluent consumers' luxury goods consumption beliefs on repeat purchases of luxury goods: Generational and gender comparison analyses

Abstract

This study examined the influences of affluent US consumers' beliefs about luxury consumption of goods on their repeat purchases of luxury goods in a multichannel retail environment. We also compared luxury goods consumption beliefs among different generations and gender groups. From a national US sample, we obtained 1066 usable responses, using a self-administered online survey. We used univariate and multivariate analyses to examine the research questions. The consumers' beliefs about luxury goods consumption resulted in four dimensions: (1) importance of signaling status through luxury goods consumption, (2) knowledge about luxury goods and brands, (3) experiential aspect of a luxury retailer, and (4) luxury goods purchase and consumption experiences. We found significant mean differences among generational cohorts in Factors 1, 3 and 4. As proposed, female affluent consumers predominantly exhibited statistically higher mean scores on all four factors as compared to their male counterparts. By comparing generational cohorts and genders with regard to their luxury consumption beliefs and their repeat luxury goods purchases made at department stores, this paper offers insights into affluent US consumers' beliefs and actual behavior that are of value for the managerial strategic directions in luxury manufacturing and retailing industries.