Luxury Consumption Tendency: A Comparative Study Between Chinese and Portuguese Consumers

Abstract

A statistical model comparing national and cultural differences in luxury consumption tendencies is presented in this paper. The objective is to investigate the factors influencing luxury consumption tendency, such as social influence, conspicuous consumption, and brand image, and their impact on consumer purchasing behavior and life satisfaction. Specifically, the Tend and Befriend Theory, the Compensatory Control Theory, and the Technology Acceptance Model are utilized to analyze the model. The quantitative analysis is based on cross sectional data with 401 valid questionnaires from Portugal and 369 from China. Comparative analysis is conducted to evaluate attitudes toward luxury consumption tendencies in both Chinese and Portuguese samples. The results indicate that social influence, conspicuous consumption, and brand image have a positive effect on luxury consumption tendencies. Moreover, luxury consumption tendencies are positively correlated with life satisfaction, the urge to buy, and luxury spending. Differences between Portuguese and Chinese consumers are observed, attributed to cultural variations. This study enhances our understanding of consumer behavior in luxury markets by elucidating influential relationships that impact consumer decision-making and life satisfaction, while also highlighting cultural influences.