Psychological and Social Factors of Fashion Consciousness: An Empirical Study in the Luxury Fashion Market

Abstract

Fashion consciousness is an important consumers' attribute affecting their purchase of luxury products. The existing research mainly focuses on certain factors of fashion consciousness in fashion markets. This research investigates the psychological and social factors of fashion consciousness in the luxury fashion market. Specifically, we analyse how these factors affect fashion consciousness and purchase behaviour among consumers in three age groups of 18-23, 24-29 and 30-35. We find that self-monitoring and self-concept affect fashion consciousness among consumers of the age group of 18-23. We also show that media exposure has a positive effect on fashion consciousness in the age groups of 24-29 and 30-35. Accordingly, we suggest that retailers come up with proper advertising messages to influence the self-monitoring and self-concept of young consumers around the twenties. We also recommend selecting appropriate channels to enhance the exposure of luxury fashion information to consumers in their mid-twenties to mid-thirties.