MOTIVATION OF LUXURY FASHION BRAND CONSUMPTION AMONG YOUNG SRI LANKAN CONSUMERS

Abstract

Investigating the motivational elements that influence young Sri Lankan fashion customers’ desire to purchase from luxury fashion companies is the goal of this essay. In terms of three dimensions, this study characterized two key luxury reasons as internal and external. This takes into account, on the one hand, the value of self-identity and hedonic pleasure, which correspond to the consumption of high-end clothing as personal style, and prestige value, which refers to a social statement. The study also explores which incentive has a bigger impact on young Sri Lankans’ intention to purchase premium fashion brands. To reflect the suggested linkages among linked variables, a conceptual model was created. For the investigation, the convenience sampling approach was employed. at addition to using Google forms, mall agents delivered survey questionnaires for completion and return at high-end clothing stores. Young consumers between the ages of 18 and 30 make up the population of this study, and respondents who were shopping in Colombo were called in order to gather data. 138 of the 200 surveys were returned, and SPSS 16 was used to analyze the data. This study provides some insight into the reasoning behind fashion purchases and the luxury fashion consumption habits of young Sri Lankan consumers in particular. According to the study’s findings, the variable that describes external worth and has a higher significant value than the other two factors is prestige value. It has been discovered that external motivation has a greater influence on the intention to acquire luxury fashion brands than internal motivation, indicating that the young Sri Lankan was motivated by external factors to buy ostentatious luxury fashion labels.